Fall in exports, imports recorded in February

The value of Ireland's exports and imports fell in February, according to latest statistics from the CSO.

Seasonally adjusted exports fell by €1.053bn between January and February 2012 - from €8.3bn to €7.3bn - while imports fell from €4.5bn to €3.7bn during the same period, the CSO said.

The trade surplus declined by €197m as a result.

Exports were down 4% on the same time last year, with imports declining 10% year-on-year.

Chief economist with Davy Research Conall Mac Coille said export growth has slowed markedly through 2011.

"Annual export growth in Q4 2011 was 3.5%, down from 7.0% in the year to Q4 2010," Mr Mc Coille said.

"Today's trade data paint a broadly similar picture and do not change our view that Irish export growth will slow sharply in 2012."