A surge in pharma exports has seen a trade surplus for January push past the €5 billion mark.

Goods exports from Ireland increased by €3.1bn year-on-year in January 2022, according to Central Statistics Office data.

The unadjusted value of goods exports for January 2022 was €16,460m, an increase of 23% on a year earlier.

Exports of medical and pharmaceutical products increased 21% to €7,220m, representing 44% of the total value of exports.

Exports of electrical machinery, apparatus and appliances increased by 59% year-on-year, while exports of professional, scientific and controlling apparatus rose by 42%.

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Exports of food and live animals increased by 26% to €900m over the same comparative period.

The unadjusted value of goods imports for January was €9,070m, an increase of 41% on a year earlier.

Imports of electrical machinery, apparatus and appliances trebled to €700m, while the value of imported fuels rose by 145% to €880m, reflecting the soaring price of fuels on the global market.

Imports of food and live animals increased by 61% to €710m while imports of medical and pharmaceutical products increased by 26% to €700m.

Exports to Great Britain in January 2022 were €1,410m, an annual increase of 48%, and accounted for 9% of total goods exports.

The value of imports from GB more than doubled to €1,060m, with the surge attributed to the higher cost of transport fuels, chemicals and related materials.

Imports from GB were 20% of the value of total goods imports into Ireland in January, according to the CSO.

The EU accounted for 39% of total goods exports in January 2022, and the value was up 44% on a year earlier. The USA was the main non-EU destination for goods exports from Ireland, accounting for 33% of total exports in the month.

The CSO estimated the seasonally adjusted trade surplus for the month at €5,270m.