Irish exports to the United States soared by 81% in January 2025 compared to the same month in the previous year, according to new data from the Central Statistics Office (CSO). The increase was largely driven by the pharmaceutical sector, which saw a 68% rise in overseas sales.
The figures come amid speculation that companies may be stockpiling goods in the U.S. ahead of potential tariffs expected to be imposed by the Trump administration. However, the CSO cautioned that monthly trade figures can be volatile and should be interpreted with care.
Pharmaceutical Exports Drive Trade Surplus
According to CSO statistician Jane Burmanje, Ireland recorded a goods trade surplus of €12.2 billion in January, with exports playing a crucial role in this growth.
“Exports of goods to the United States totaled €11.7 billion in January 2025, accounting for 48.4% of Ireland’s total exports,” Burmanje said. “Meanwhile, imports from the U.S. were valued at €2.1 billion, representing 19.7% of total imports, making the U.S. Ireland’s largest trading partner for this period.”
The unadjusted value of goods exports increased by €5.3 billion (28.2%) to €24.2 billion compared to January 2024. When seasonally adjusted, exports rose by €4.8 billion (26.4%) to €23 billion compared with December 2024.
Tariff Uncertainty Drives Export Activity
Trade experts suggest that businesses may be accelerating exports to the U.S. in anticipation of tariffs on European goods. Carol Lynch, Head of Customs and International Trade Services at BDO, noted that the U.S. was Ireland’s largest export market in January, likely due to companies seeking to get ahead of potential trade restrictions.
“Interestingly, imports from the U.S. have also increased, likely reflecting EU companies stockpiling American goods ahead of potential tariffs on U.S. exports,” Lynch added.
Shifts in Trade with Britain and the EU
While trade with the U.S. surged, exports to Great Britain declined by 22% year-on-year, a drop mainly attributed to a €384 million decrease in the chemicals and pharmaceuticals sector. However, this decline was offset by a rise in chemical and pharmaceutical exports to the EU, which increased by over €500 million in the same period.
The agri-food sector, in contrast, showed resilience, with exports to Great Britain growing by €29 million compared to January 2024. Analysts see this as a positive sign for Ireland’s domestic economy, particularly amid shifting international trade conditions.
Call for Businesses to Act Quickly
With ongoing uncertainty surrounding potential U.S. tariffs on EU goods, Lynch urged Irish businesses to take proactive measures.
“Those exporting to the U.S. should reassess their strategies immediately to mitigate risks and capitalize on emerging opportunities,” she said. “We advise companies to act swiftly to ensure their products are exported before any tariffs take effect.”
As trade conditions continue to evolve, Irish businesses are closely monitoring developments in U.S. policy, balancing short-term export opportunities with long-term strategy adjustments.
