Trade balance in Ireland

The trade balance measures the difference between the value of Ireland's exports and imports of goods with the rest of the world in a given month. It is published by the Central Statistics Office (CSO) from the external merchandise trade statistics.

Balance = goods exports minus imports recorded by customs in the month, expressed in millions of euros. A positive figure is a trade surplus and a negative one a deficit. Ireland typically posts a large surplus thanks to its pharmaceutical and tech export sectors.

The external balance is a component of GDP and a gauge of the competitiveness of the Irish economy. A widening surplus supports growth, though in Ireland the figure is heavily driven by multinationals, which limits its use as a read on domestic demand.

The figures are not final: each release revises earlier months and the data arrive with a lag. The heavy weight of multinationals and effects such as contract manufacturing can distort the balance relative to genuine activity in Ireland.