Ireland’s trade surplus narrowed sharply to EUR 3.4 billion in May 2026 from EUR 12.1 billion in the same month a year earlier. Exports plunged 29.1% year-on-year to EUR 16.5 billion, weighed down by a decline in shipments of medicinal and pharmaceutical products (-58.9%), chemicals and related products (-50.4%), and other transport equipment (-24.5%). Among key trading partners, exports decreased to Belgium (-35.2%), Italy (-44.8%), the Netherlands (-29.9%), and the US (-55.9%). Meanwhile, imports jumped 17.5% to EUR 13.1 billion, lifted by higher purchases of petroleum and petroleum products (+69.9%), machinery and transport equipment (+45.7%), and telecommunications and sound recording, reproducing equipment (+32.7%). Imports increased from Germany (+5.3%), France (+17.3%), the UK (+2.7%), and the Netherlands (+4.8%). For the January–May period, the trade surplus reached EUR 21.5 billion, significantly lower compared to EUR 74 billion recorded in the same period of last year.