International Merchandise Trade Statistics: Trade Balance: Commodities for Ireland
XTNTVA01IEM664N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,679,700,000.00
Year-over-Year Change
79.05%
Date Range
1/1/1955 - 5/1/2025
Summary
The International Merchandise Trade Statistics: Trade Balance: Commodities for Ireland measures the difference between Ireland's imports and exports of physical goods. This indicator provides insight into Ireland's trade performance and international economic position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The trade balance statistic tracks the net flow of physical goods in and out of Ireland's borders, excluding services. It is a key economic indicator used to assess a country's trade competitiveness, international market access, and overall trade dynamics.
Methodology
The data is collected by Ireland's national statistical agency based on customs records and surveys of importing and exporting enterprises.
Historical Context
The trade balance is closely monitored by policymakers, investors, and analysts to gauge Ireland's economic health and global trade integration.
Key Facts
- Ireland had a trade surplus of €5.7 billion in 2021.
- Chemicals and related products account for over 50% of Ireland's exports.
- Ireland's largest trading partners are the United States, United Kingdom, and Germany.
FAQs
Q: What does this economic trend measure?
A: The International Merchandise Trade Statistics: Trade Balance: Commodities for Ireland measures the difference between Ireland's imports and exports of physical goods.
Q: Why is this trend relevant for users or analysts?
A: The trade balance is a key indicator of Ireland's trade performance, international competitiveness, and overall economic health.
Q: How is this data collected or calculated?
A: The data is collected by Ireland's national statistical agency based on customs records and surveys of importing and exporting enterprises.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and analysts closely monitor Ireland's trade balance to gauge the country's economic health and global trade integration.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Trade Balance: Commodities for Ireland (XTNTVA01IEM664N), retrieved from FRED.