Exports jump by 47% in first five months of 2025
The CSO says medical and pharmaceutical products accounted for over half (58.7%) of all goods exported in May, with the total value of exports for the month reaching €23 billion.
The US is the largest export market for Irish goods, and in May exports to the US rose by 86.5% to €10.6 billion compared to the same month last year.
Between January and May exports to the US have seen a significant rise on the same period last year - increasing by 153% to nearly €71 billion.
The jump in exports to America comes amid the potential threat of elevated tariffs being placed on EU goods entering the country, with reports of companies trying to get high levels of product into the US before any higher tariffs are in place.
Overall, goods exports from Ireland in the first five months of the year were valued at €134.4 billion, which is an increase of €42.9 billion (46.9%) on the same time in 2024.
Meanwhile, the CSO figures also show that goods imports into Ireland rose by €4.2 billion (7.8%) between January and May, when compared with the same five months in 2024.
Imports of medical and pharmaceutical products increased by €703.8m (60.6%) to €1.9 billion year on year in May, the CSO added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Extra.ie
3 hours ago
- Extra.ie
Confused shopper tries to enter Lidl on Fair City set
In a case of life imitating art a little too closely, a woman was spotted outside RTÉ Studios this week trying to do her grocery shopping in a rather unusual location – the Lidl on the set of Fair City. David Murphy, RTÉ's Economics & Public Affairs Editor, shared the moment on social media Monday evening, tweeting: 'Met a lady outside RTÉ trying to get in to do her shopping in the Lidl on the Fair City set this evening. It's listed on Google Maps. I gave her directions to Tesco.' Pic: RTE The confusion stems from a realistic-looking Lidl store that now features as part of the fictional town of Carrigstown, built on RTÉ's Donnybrook campus. The store is not open to the public, but its presence online, including on Google Maps, has apparently led at least one person to believe otherwise. The Lidl store is the result of a major three-year product placement deal signed earlier this year between the supermarket chain and RTÉ. It marks the largest broadcast product placement agreement in Irish television history, according to RTÉ Commercial Director Gavin Deans. Construction of the faux supermarket began in March. The collaboration between RTÉ and Lidl includes realistic store features like a Deposit Return Machine, in-store bakery, and even a modern staff welfare area. A fictional store manager, Renee, will be introduced as part of upcoming plotlines. Pic: RTE Characters in Fair City will interact with the store as part of their daily lives in Carrigstown – and, evidently, some viewers are already mistaking it for a place to pick up their weekly shop. Fair City, which debuted in 1989, draws over 600,000 weekly viewers on RTÉ One, with a further 100,000 streaming the show each week via RTÉ Player.
The Irish Sun
3 hours ago
- The Irish Sun
Major boost for thousands of Irish as €33 weekly payment or €462 double lump sum set for return in just weeks
THOUSANDS of Irish households will get an extra €33 a week in their pocket in just weeks as a vital payment returns. The Fuel Allowance Advertisement 2 400,000 households received the allowance last year, with that number set to increase following eligibility reductions made in budget 2025 Credit: Getty Images - Getty Last year, the Now the Currently, the weekly Fuel Allowance payment is issued to over 400,000 Irish households. To qualify for the payment, you must be over 66, live alone, and satisfy a means test. Advertisement READ MORE IN IRISH NEWS If you are under 66, you'll need to be receiving a qualifying social welfare payment, such as a pension, to apply. Those living with dependent People on the Carer's Allowance are eligible as well, provided they meet all other criteria. Only one person per household can receive the allowance, and they must be residing in Ireland at the time of application. Advertisement Most read in Money In 2024, 400,000 households received the allowance. This year, that number is expected to rise following a four-year reduction in the eligibility age under Budget 2025. The news comes following debates in the Dail this week. Taoiseach Micheal Martin recently ruled out a repeat of 2025's €2.6 billion cost-of-living package. Advertisement BUDGET CONCERNS Similarly, government leaders have agreed to scrap one-off payments such as energy credits and double Child Benefit boosts. But what does this mean for those hardest hit by the Susanne Rogers of Social Justice Ireland says social welfare rates must increase to ensure vulnerable people are not left behind. She said previous cost-of-living supports offered short-term relief for low-income households, almost 650,000 people remain below the poverty line. Advertisement And without any of those supports, that number would likely be closer to 750,000. 2 Those over 66 do not need to sit a means test to receive the €924 payment Credit: Getty Images - Getty
Irish Post
5 hours ago
- Irish Post
Ireland is at the forefront of the four-day workweek
AS global work cultures change in the wake of the COVID pandemic, Ireland is quietly becoming a trailblazer in a new workplace movement: the four-day workweek. This is all according to a major international study recently published in Nature Human Behaviour The landmark study, led by researchers at Boston College and the University of Cambridge and including Irish social policy expert Professor Orla Kelly of UCD, analysed the effects of reduced working hours across six English-speaking countries: the USA, Britain, Australia, New Zealand, Canada, and notably, Ireland. Across 141 companies and nearly 2,900 workers, a consistent pattern emerged: fewer working hours led to better physical and mental health and stronger job satisfaction. In fact, workers who had their weekly hours reduced by eight or more reported the most substantial gains, including improved sleep, reduced stress, and more time for exercise, hobbies, and family. The message from the data is clear—less is more. What sets Ireland apart in this global push is its early and enthusiastic involvement. 'Irish companies were actually among the first cohort to participate in the trials,' said Professor Wen Fan, the study's lead author and a sociologist at Boston College. Of the 16 companies in the pilot's initial phase in February 2022, 12 were Irish. The Forsa trade union played a key role, reflecting a growing national interest in modernising the way we work. Professor Kelly, who was central to the study, noted that most companies that trialled the four-day week chose to make it permanent. 'Organizations' choice to keep this new working model supports employees' subjective assessment of productivity gains,' she explained. In other words, employees feel more productive, and the companies agree. One of the most telling aspects of the study was its international scope, which allowed for cross-country comparisons. It showed that the well-being benefits were consistent regardless of geography. As Prof. Fan put it, 'The well-being effects are fairly uniform across companies, across nations, and across employees.' This reinforces the idea that the success of the four-day week is not culturally bound or industry-specific—it's a flexible model with broad potential. Still, the study doesn't ignore the practical challenges. Most participating organisations were in sectors like IT, telecoms, and administration, where workflows are more easily adapted. The next frontier, researchers argue, is testing the model in sectors like healthcare, retail, and manufacturing, where output is harder to quantify. Professor Kelly believes government involvement will be key to achieving this. 'A good first step would be for the government to provide support for a trial among these sectors to better understand how this opportunity to work less for the same pay can be universalised,' she said. The study also raises broader questions about Ireland's role in shaping the future of work. With countries like Spain and Belgium already legislating changes to the traditional five-day model, Ireland's early participation in trials positions it as a leader—and perhaps even a model—for a future that values work-life balance as much as productivity. Critics may point out the limitations of the research—self-reported data and voluntary participation by companies already inclined to innovate. But as Professor Brendan Burchell of the University of Cambridge said, this study is a 'blockbuster' that offers some of the strongest evidence yet for rethinking our work structures. 'These four-day week studies have been taking off since the pandemic, when people had much more imagination about how things could be different.'
