Irish Trade Surplus Narrows in July

Irish trade surplus decreased to €3.6 billion July of 2015, down from an unrevised €4.1 billion surplus in the previous month as exports shrank by 6 percent while imports contracted at a slower 2 percent.

Seasonally adjusted exports fell by €596 million to €8.759 million in July from €9,355 million in June, while imports declined slightly by €101 milliob to €5,138 million from €5,239 million, preliminary figures showed.

Year-on-year, sales grew 25 percent, as exports of medical and pharmaceutical products' shipments surged by 69 percent and exports of organic chemicals grew 39 percent. The EU accounted for 56 percent of total exports of which 14 percent went to Belgium and 12 percent to the UK, while the USA was the main non-EU destination accounting for 20 percent of total exports. 

By contrast, imports shrank by 6 percent, mainly due to lower purchases of petroleum products (-26 percent). Meanwhile imports of office machines and automatic data processing machines (including computers); and road vehicles went up by 36 percent and 47 percent, respectively. Imports excluding other transport equipment, including aircraft grew 10 percent. The EU accounted for 61 percent of imports during the month, with 28 percent of total imports coming from the UK. The USA (12 percent) and China (8 percent) were the main non-EU imports sources.

Irish Trade Surplus Narrows in July

CSO | Joana Ferreira |
9/18/2015 11:25:21 AM