Irish Trade Surplus Grows Sharply In May

Ireland's foreign trade surplus increased notably in May from a year ago as exports surged amid a fall in imports, figures from the Central Statistics Office showed on Thursday.

On an unadjusted basis, the trade surplus rose to EUR 12.6 billion in May from EUR 7.0 billion in the corresponding month last year. The surplus also increased from EUR 11.2 billion in April.

Exports logged an annual growth of 29.3 percent in May, while imports fell by 2.7 percent.

The seasonally adjusted trade surplus rose to EUR 12.3 billion in May from EUR 11.1 billion in April. Exports climbed 5.0 percent monthly, while imports were 0.5 percent lower.

The annual growth in exports was driven by a 73.9 percent jump in shipments of medical and pharmaceutical products. The main export partner was the United States, with an 86.4 percent surge in outflows.

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