Ireland’s Exports Reach Record High in 2024, Driven by Pharmaceuticals
Ireland experienced a remarkable year in 2024, with goods exports rising by 14%. However, exports to the UK declined by 10%.
A standout figure was the surge in exports to the US, primarily fueled by the pharmaceutical sector. Of the €72 billion worth of goods exported to the US, €58 billion came from pharmaceuticals.
According to the latest figures from the Central Statistics Office (CSO), Irish exports reached an all-time high of €224 billion in 2024—an increase of €28 billion, or 14%, compared to 2023.
In December alone, unadjusted goods exports grew by €1.7 billion year-on-year, reaching €15.5 billion.
The CSO reported that exports to the US rose by 34% in 2024, climbing from €54 billion in 2023 to €72.6 billion. The US remained Ireland’s top non-EU export destination, accounting for €5.2 billion, or 34% of total exports, in December.
Meanwhile, the EU accounted for €5.6 billion (36%) of December’s total goods exports. Within the EU, Ireland exported €1.7 billion to the Netherlands, €975 million to Germany, and €774.3 million to France.
Exports to Great Britain in December stood at €1 billion, representing 6% of total exports. However, for the full year, exports to Great Britain declined by 10% to €15.7 billion, down from €17.5 billion in 2023.
Medical and pharmaceutical products played a significant role in the growth, with exports rising by 29% to €99.9 billion in 2024. Imports of these products also increased, growing by 24% to €15.7 billion.