Figures from the Central Statistics Office show that there was a record trade surplus in June, as exports rose more quickly than imports.
The CSO said the seasonally adjusted trade surplus in June was just over €4 billion, with exports worth €7.9 billion and imports of €3.82 billion.
Detailed figures for the first five months of this year show that exports are 6% ahead of the same period a year earlier at €38.6 billion.
Growth is being led by two of the biggest export sectors. Medical and pharmaceutical exports are up 14%, while chemical exports are 7% ahead. There was also a 47% jump in exports of dairy products.
More than half of Irish exports in the first five months went to the USA, Belgium and Britain.
Imports in the first five months of this year are running 12% ahead of the same period last year at just over €21 billion. Imports in the other transport category - which includes aircraft - were up 34%. Imports from Britain rose by 18%, those from China by 17%, while there was 16% growth in imports from Germany.
Welcoming today's 'positive' export figures, Bloxham's chief economist Alan McQuaid said the sector would be the 'key driver' of Ireland’s economic recovery in the short-term.
However, he warned that as the global economy is slowing down, Ireland’s export figures are likely to weaken in the coming months, which in turn will have negative implications for the country’s overall growth prospects this year.
'Still, it is clear that Ireland has a very healthy and dynamic export model, putting it in a much better position than other euro zone ‘peripheral’ debt countries to move forward once the world economy regains momentum,' he added.
