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Record exports of over €22 billion in September - CSO

Exports rose by 23% to hit a new monthly record high of €22.2 billion in September, new CSO figures show
Exports rose by 23% to hit a new monthly record high of €22.2 billion in September, new CSO figures show

New Central Statistics Office figures show that Irish exports rose by 23% to hit a new monthly record high of €22.2 billion in September.

Exports of Chemicals & Related Products accounted for €15.8 billion, or 71% of this total, the CSO noted.

Today's figures show that exports for the first nine months of the year amounted to almost €166 billion, an increase of 12% on the same time of 2023.

The CSO said that when seasonally adjusted, exports of goods grew by €4 billion in September compared with August.

Meanwhile, seasonally adjusted imports decreased by 12% to just over €11 billion.

The CSO said this lead to an increase of €5.582 billion in the seasonally adjusted trade surplus to €11 billion in September compared with August 2024 - a jump of 103%.

Today's CSO figures show that exports to Great Britain have fallen by 13% in the first nine months of 2024, while exports to the US have grown by 28% in the same period.

The EU accounted for €10.370 billion (47%) of total exports in September, of which €2.660 billion went to Belgium, €2.450 billion went to the Netherlands and €1.731 billion went to Germany.

The US was the main non-EU destination accounting for €6.956 billion (31%) of total exports in September.

Commenting on today's CSO figures, Janette Maxwell, Director in Tax at Grant Thornton, said that Donald Trump's recent US election win could increase the risk of a disruption to transatlantic trade if the US president-elect introduces protectionist trade policies.

"Although any impact will not be felt until further into 2025, it will be important that the Irish economy braces itself for potentially more intrusive regulations, higher customs duties, and more restrictions on Irish-US trade," she added.