The unadjusted value of exports fell by €16.2bn in April following a rush of pharmaceutical exports the previous month ahead of US President Donald Trump's 'Liberation Day' tariff announcement.
Figures from the Central Statistics Office (CSO) show goods exports totalled €21.9bn, a decline of 43% from March (€38.1bn) but an increase of €2.5bn or 12.7% year-on-year.
The unadjusted value of goods imports came to €10.8bn in April, down 18% or €2.4bn from March (€13.1bn).
Exports to the US fell 62% or €16bn to €9.7bn month-on-month, accounting for practically all of the decline, but increased by €3.2bn or 48.6% from last April.
Exports of medical & pharmaceutical products dropped by €12.8bn or 54% on a monthly basis, but again increased significantly (+€2.1bn or +23.6%) to €10.9bn compared to a year ago.
During the first four months of the year, exports of medical & pharmaceutical products represented 60.2% of exports, totalling €66.9bn.
Jane Burmanje, statistician in the international trade in goods division of the CSO, said exports from January to April were 117% or €36.1bn higher than during the same period in 2024 (€30.8bn).
Exports of organic chemicals increased by €44.9m (+1.8%) to €2.6bn in April 2025 compared with April 2024 (€2.5bn).
Exports of office machines & automatic data processing machines (including computers) increased by €347.7m (+119%) to €639.7m in April compared with a year prior (€292m)
Both seasonally adjusted goods exports and imports decreased, leading to a decrease of €12.7bn (-53.7%) in the seasonally adjusted trade surplus to €10.9bn compared with March (€23.6bn).
After the US, the Netherlands (€2.1bn) and Britain (€1.35bn) were Ireland's top export destinations during the month.
Exports of goods to the US accounted for 44.5% (€9.7bn) of total export trade in April, 84.4% (€8.2bn) of which were chemicals & related products, which include medical & pharmaceutical products.
Ireland imported the highest value of goods from Germany (€1.6bn), Britain (€1.3bn) and the US (€1.2bn) in April, the three countries representing a combined 38.7% of imports.
The products which accounted for the largest share of imports were chemicals & related products at €471.5m and machinery & transport equipment at €384m, representing 39% and 31.7% of total imports from the US.
Carol Lynch, Head of Customs and International Trade Services at BDO, said: “Overall exports in April 2025 increased by 12.7% (or €21.9bn) compared with April 2024. However, as was to be expected, exports in April 2025 fell by 43% compared to March 2025.
"This is largely attributable to a reduction in exports to the US as stockpiling decreased after the imposition of the Liberation Day Universal tariffs on 5th April.
"Exports to the US decreased by €16bn (62%) compared to March 2025. This is similar to export trends from other countries, such as the UK, to the US."
“Overall, we can see that the expected significant exports to the US are now falling back to a lower level, but a level that is still well above that of April 2024 – illustrated by the fact that exports to the US in the first four months of 2025 were 170% higher than in the same period last year.”
“The next most significant date for companies to focus on next will be July 9th when the current ‘pause’ on lower reciprocal tariffs ends.
"The rate of 25% originally applied to the EU was due to be implemented on 9th April, but this has been paused to allow for negotiations between the EU and US.
"Should those negotiations fail, then the 25% tariff will kick in.”
(Pic: Getty Images)
