Seasonally adjusted trade figures show imports in May decreased by 7 per cent from €3,922 million to €3,650 million.
Figures released by the Central Statistics Office show exports from Ireland also fell from €6,971 million to €6,655 million, a 5 per cent drop.
The trade surplus for May was €3,005 million, while the preliminary figure for June is €2,720 million.
The CSO said initial indications for June show imports increased by €110 million and that exports were down €175 million on the previous month.
In other figures published today, industrial production for manufacturing industries for the three-month period April to June 2003 was up 1.5 per cent on the previous quarter. Turnover for these industries showed an increase of 6.5 per cent in the same period.
However, turnover in June this year was 6.3 per cent lower than in June 2002.