New figures from the Central Statistics Office show that unadjusted exports of goods increased by €1.7 billion to €17.3 billion in November compared with the same time last year.
When seasonally adjusted, the CSO said that exports of goods fell by €2 billion in November 2022 when compared with October 2022.
The unadjusted imports for November were valued at €11.9 billion, an increase of €1.4 billion on November 2021. Seasonally adjusted imports were €10.9 billion in November.
The CSO said that comparing the first 11 months of 2022 with the same time in 2021, exports increased by 27%, and the value of imports increased by 39%.
Exports for January to November 2022 were more than €193 billion.
Today's figures show that imports from Great Britain grew by 30% to €2.1 billion in November 2022 compared with 2021. Imports of Mineral Fuels accounted for €612m of this and imports of Chemicals & Related Products were valued at €402m.
But exports to Great Britain decreased by 6% to €1.6 billion in November 2022 from November 2021, the CSO added.
The products which accounted for the largest share of exports were Chemicals & Related Products, with €571m, and Food & Live Animals at €364m.
Janette Maxwell, Director in Tax at Grant Thornton Ireland, said it will be interesting to monitor this trajectory over the coming months as this may be an indication of a declining trading relationship.
