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Irish exports hit record high of £140bn last year

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Exports from the medical and pharmaceutical sectors increased 25% in 2020 to €62bn (£54bn)

Exports from the medical and pharmaceutical sectors increased 25% in 2020 to €62bn (£54bn)

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Exports from the medical and pharmaceutical sectors increased 25% in 2020 to €62bn (£54bn)

Irish exports were valued at €160bn (£140bn) last year, the highest level ever recorded, according to the Central Statistics Office (CSO).

Total exports were up 5% when compared to 2019, despite a slowdown in economic conditions across the world due to the Covid-19 pandemic.

The performance was driven by the medical and pharmaceutical sectors, accounting for almost 40% of all Irish exports.

Exports from the medical and pharmaceutical sectors increased 25% in 2020 to €62bn (£54bn).

Organic chemicals were the next biggest area, with €31bn (£27bn) of exports last year.

Food and live animal exports, when combined, totalled €11.5bn (£10bn) in 2020.

Imports in 2020 decreased compared to 2019, falling by €5.5bn (£4.8bn) to €85.3bn (£74.4bn), according to the CSO.

Imports of 'other transport equipment', including aircraft were valued at €12.7bn (£11bn) last year, or 15% of total imports. This was a decrease of 41% on the 2019 level.

Imports of petroleum were down 40% in 2020 to €2.6bn (£2.3bn).

Last year exports to Britain fell by 9% to €12.4bn (£11bn). Overall, exports to Britain accounted for 8% of Ireland's total exports in 2020.

Meanwhile, imports from Britain were down 5% year-on-year, falling to €17.8bn (£15.5bn). Goods from Britain accounted for 21% of total imports in 2020.

The EU accounted for 40% of Ireland's total exports in 2020, an increase of 13% on 2019. Of the EU 27, Belgium and Germany were the most popular destinations for Irish exports last year.

There were €30.3bn (£26.4bn) of imports from the EU in 2020, representing 36% of total imports, according to the CSO. This was a decrease of 9% on 2019.

Looking beyond the EU and UK, exports to other countries were valued at €82bn (£71.5bn) last year, up 3% on the 2019 level of exports. From this, United States was the largest export destination in 2020, accounting for €49.8bn (£43.4bn), or 31% of total exports.

In December, the value of seasonally adjusted goods exports was €12.5bn (£10.9bn).

Belfast Telegraph


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