The first estimates for 2023 from the Central Statistics Office show that exports were valued at €197 billion last year, a decrease of 6%, or €11 billion, when compared with 2022.
However, the CSO said that exports last year were still more than €30 billion higher than in 2021.
Meanwhile, imports of goods were valued at €140 billion, a fall of 1%, or €1.5 billion compared with 2022, but almost €36 billion more than in 2021.
Today's figures show that exports to Great Britain grew by 2% to €17.6 billion in 2023 when compared with 2022, and the largest increase of 13% was seen in the export of machinery and transport equipment.
Imports from Great Britain fell by 12% to €21 billion last year compared with 2022. The largest drop was seen in the imports of mineral fuels, lubricants and related materials which were down by 34%.
The CSO said that unadjusted goods exports in December amounted to €13.9 billion in December, down 9% or almost €1.4 billion on December 2022.
The EU accounted for €5.190 billion (37%) of total goods exports in December 2023, of which €1.686 billion went to the Netherlands, €1.059 billion went to Belgium and €989m went to Germany.
The US was the main non-EU destination as it accounted for €4.347 billion (31%) of total exports in December.
Today's CSO figures also show that unadjusted goods imports came to €12 billion in December, which was over €600m less than imports in December 2022.
They also reveal that exports of medical and pharmaceutical products increased by 9% to €5.817 billion in December compared with the same month last year - this represented 42% of total exports.
Exports of organic chemicals slumped by 57% to €985m, the CSO added.
Meanwhile, imports of mineral fuels, lubricants and related materials decreased by 28% to €753m in December, while imports of other transport equipment, including aircraft, increased by 8% to €2.886 billion.
Commenting on today's figures, Carol Lynch, a partner in the BDO Customs and International Trade Services department, said of most significance is the fact that exports to the UK grew by 2% in 2023, while the biggest reduction was in exports to the US - down 14% -, while exports to the rest of the world fell by 9%.
She said this is part of the ongoing trend seen throughout 2023 with overall exports down 6% for the 2023 calendar year when compared with 2022, adding that most of the slide has been in pharmaceutical and semiconductor exports
