Irish Trade Surplus Narrows 24% in November

Irish trade surplus decreased by 24 percent to €3,379 million in November of 2015, compared to an upwardly revised €4,467 million surplus in the previous month as exports shrank 11 percent while imports fell at a slower 1 percent.

Seasonally adjusted exports went down by €1,149 million to €9,138 million in November from €10,287 million in October while imports decreased by only €61 million to €5,759 million from €5,820 million, preliminary figures showed.

Year-on-year, exports grew €1,906 million or 24 percent to €9,770 million, boosted by a massive 97 percent increase of sales of organic chemicals. Exports of medical and pharmaceutical products rose 23 percent and those of food and live animals increased by 11 percent. The EU accounted for €5,151 million or 53 percent of total goods exports of which €1,496 million went to Belgium and €1,153 million to Great Britain. The US was the main non-EU destination accounting for €2,329 million or 24 percent of total exports.

Meanwhile, imports roseby €375 million or 7 percent to €5,842 million, mainly due to higher purchases of road vehicles (+43 percent), organic chemicals (+128 percent) and medical and pharmaceutical products (+32 percent); while imports of petroleum dropped 46 percent. Imports excluding other transport equipment, including aircraft grew 12 percent. The EU accounted for €3,626 million or 62 percent of the value of goods imports, with €1,433 million of total imports coming from Great Britain. The US with €756 million or 13 percent and China with €395 million or 7 percent were the main non-EU sources of imports.  

Irish Trade Surplus Narrows 24% in November

CSO | Joana Ferreira |
1/15/2016 11:32:57 AM