Irish exports of petrol soar following Iran war 

CSO Figures show exports of petrol and related products grew by 224% on an annual basis

Oil refinery at Whitegate, Co. Cork, Ireland.- Picture David Creedon

Irish exports to the US dropped by almost half in April, while petrol and related goods skyrocketed amidst the war Iran, new data from the Central Statistics Office (CSO) shows.

Publishing April trade figures on Wednesday, the CSO said the total value of goods amounted to €18.5bn in the month, down over 13% compared to a year ago. When seasonally adjusted, goods exports rose on a monthly basis, growing by almost 9% compared to March.

Exports to the US fell by €4.2bn on an annual basis, with annual figures skewed by last year's stockpiling efforts in the run-up to US President Donald Trump's 'Liberation Day' tariffs in April 2025. 

With trade figures readjusting, CSO statistician Jane Burmanje noted a significant fall in pharmaceutical exports to the US compared to 12 months ago, dropping by almost €5bn in the year to just €3.3bn in April.

Despite the drop, the US remained Ireland's top exporting partner in April, accounting for almost 28% of total Irish exports. This was followed by the Netherlands and Britain, at 14% and 10% respectively.

Petrol exports up 224%

Exports of petroleum and related products rose significantly by 224% in the 12 months, increasing to €168m in April, reflecting growing demand for fuel following the war in Iran and subsequent oil crisis. Imports of petroleum goods also rose, growing by 54% to €538m on an annual basis. 

Meanwhile, exports to Britain grew by over 50% to €1.9bn in April, with the main driver in the surge related to machinery and transport equipment, exports of which to the UK more than doubled in the year to €724m.

The CSO reported an almost 28% fall in total exports of medical and pharmaceutical products, decreasing to €7.8bn in April compared to the same month last year. 

The total value of goods imported into Ireland rose by 22% in the 12 months, increasing to €13.2bn, the CSO found. 

“Today’s trade figures point to a continued reshaping of Ireland’s export landscape," said Robert Purdue, head of client portfolio management at Ebury Ireland. 

While overall exports remain below last year's levels, Mr Purdue said the sharp decline in shipments to the US suggests Irish exporters are still feeling the effects of trade tensions and evolving tariff policies, particularly in sectors with strong transatlantic exposure like pharma.

"On a positive note, the strong growth in exports to Great Britain demonstrates how quickly Irish businesses are adapting to changing trade dynamics. Meanwhile, the sharp increase in petroleum and related product exports, which more than tripled year-on-year, provided a significant boost to April's trade performance."

Looking forward, Mr Purdue warned Irish exporters will still continue to face economic complexity, noting: "While the Iran conflict appears to be moving towards a potential resolution, uncertainty remains and recent disruption has already pushed up energy and shipping costs. 

"With inflation risks persisting and the European Central Bank considering further interest rate increases, exporters face a challenging period ahead.”