Goods exports from Ireland in May surged by almost €4.5bn year-on-year to €17.9bn. according to the Central Statistics office.

For the January to May period, goods exports in 2022 were one-third higher than in 2021.

Unadjusted goods imports were €12.8bn, which was €4bn higher than imports in May 2021.

The increase in goods exports was driven mainly by growth in the exports of Medical & Pharmaceutical products, which account for 39% of total exports.

Imports from Britain grew by 71% in May 2022 compared with May 2021, driven mainly by increases in the imports of fuels and chemicals.

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Due to higher prices for fuel and petroleum derivatives, the value of goods imported from Britain for January to May 2022 increased by 76% year-on-year.

The monthly trade surplus in May was €5.7bn, down marginally from April.

Exports of Professional, Scientific & Controlling Apparatus increased by 33% year-on-year while exports of Food and Live Animals increased by 28% year-on-year.

Exports of Electrical Machinery, Apparatus, Appliances & Parts increased by 19%.

The value of goods exports to Britain for January to May 2022 increased by 32% in the year.

Imports from Northern Ireland for January to May 2022 increased by 23% on an annual basis, while exports to NI improved by 42% in the period.

According to CSO data, Ireland’s main export markets are EU countries (35%) and USA (30%).

Enterprise Ireland data suggested that as well as multinationals, indigenous Irish firms are enjoying strong export volumes too.