Preliminary data from the Central Statistics Office indicate that the value of exports increased by 16.4% to a record €260.3 billion in 2025, driven by a surge in frontloaded exports during the first half of the year amid concerns over threatened US tariffs.
According to the CSO, the value of imports also rose in 2025, up 7% to €144 billion compared with 2024.
The latest CSO release shows that exports to the US fell by 41.1% to €3.3 billion in December last year, down from €5.7 billion in December 2024.
Ireland’s leading export destinations last year were the US, the Netherlands and Belgium, accounting for 42.9% (€111.7 billion), 9.9% (€25.7 billion) and 6.1% (€15.8 billion) of total exports, respectively.
The CSO reported that exports of medical and pharmaceutical products climbed by 39% in 2025 to €138.6 billion, compared with €99.7 billion in 2024. These products made up 53.2% of total export goods last year.
The figures also show that the unadjusted value of exports rose by 1.7% to €16 billion in December 2025, compared with €15.7 billion in December 2024.
Meanwhile, the seasonally adjusted trade surplus increased by 19.7% to €4.9 billion in December, up from €4.1 billion in November, the CSO added.
Commenting on today’s figures, Carol Lynch, Head of Customs and International Trade Services at BDO, noted that while the headline numbers are strong, they are somewhat influenced by the unusually high volume of US pharmaceutical and related exports, particularly during the early months of 2025.
While these numbers are impressive, they are also slightly skewed by the significant level of US pharmaceutical and related exports, particularly in early 2025. These exports were at their height before the imposition of the Trump tariffs, particularly in the January to March period, in order to avoid any risk of a 25% or 50% tariff or worse being imposed. We are now seeing US exports re-adjust in December 2025, overall reducing by 41% in December 2025 versus December 2024, with the reduction particularly occurring in Pharmaceuticals and Chemicals (over 50%), following the trend from November.
However, the scale of Ireland’s exposure to US trade policy and its knock-on impact on Global Trade Rules remains stark. Almost 43% of our exports in 2025 were to the US.
Between January and December 2025, the value of Irish exports to the EU of Chemicals and related products was almost €€60bnWhile for the same period, and for the same products, exports to the US were almost €95bn
While some of the uplift reflected stockpiling ahead of anticipated tariff changes in early 2025, the figures nonetheless underline a central truth: Ireland’s economic performance is heavily dependent on the US market. As a result, US trade policy now plays an outsized role in shaping Irish economic outcomes, and our understanding of the rules around accessing the US market becomes increasingly critical.
As the certainty (or rules-based order) we have been operating in disintegrates, it requires companies to be more tuned in to geopolitics, regional allies, and the potential impact on exports.
In 2026, companies can no longer afford to operate on the assumption that instability is temporary. Instead, resilience and agility have become essential board-level attributes rather than operational buzzwords. The challenge is to translate those qualities into practical, structured action.