China becomes Ireland's 3rd largest source of imported goods in Q1

Economy

China became the third largest source of imported goods for Ireland in the first quarter (Q1) of this year, up two places compared to a year ago, the latest official data shows.

XinhuaUpdated:  May 18, 2022
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China became the third largest source of imported goods for Ireland in the first quarter (Q1) of this year, up two places compared to a year ago, the latest official data shows.

In Q1 2022, Ireland imported 2.87 billion euros' worth (3 billion U.S. dollars) of goods from China, up 64 percent year-on-year, according to the Central Statistics Office (CSO) of Ireland.

The value of the goods imported by Ireland from China in the first three months of this year only ranked behind Britain (6.38 billion euros), and the United States (3.97 billion euros).

In the same period of last year, Ireland imported 1.75 billion euros' worth of goods from China, making it the fifth largest source of imported goods for Ireland after the United States, Britain, France and Germany.

In Q1 2022, Ireland's goods exports to China were valued at 3.16 billion euros, up 20.6 percent year-on-year.

China was also the fifth largest destination of Irish exported goods in the first quarter of this year, remaining in the same position when compared with a year earlier.

The surplus that Ireland enjoyed in trading with China was close to 290 million euros in Q1 2022, a decrease of about 580 million euros compared to the 869-million-euro trade surplus it posted in Q1 2021.

In the first quarter of this year, China's share in the total value of goods imported by Ireland rose two percentage points to 9.85 percent. Meanwhile, its share in the total value of Irish exported goods slipped to 6.05 percent, from 6.5 percent in Q1 2021.

Ireland's total imported goods were valued at 29.15 billion euros in the first quarter of this year, up 30.7 percent year-on-year. Its total exports were valued at 52.26 billion euros, up 29.5 percent from a year ago. (1 euro=1.05 U.S. dollars)