New figures show improvement in trade surplus

New figures show improvement in trade surplus
Dublin Port

Official figures released today have shown strong growth in exports by Irish companies in the first eight months of this year.

Enterprise Ireland says we will recover about 70% of the export earnings that were lost in 2009.

Seasonally adjusted exports increased by 8% between June and July while imports decreased by 9%, leading to an increase in the Trade surplus of 29% to €4.203bn.

It comes just a day after the Government announced an integrated plan which aims to increase the value of exports by a third in the next five years.

On an unadjusted basis, the value of exports in July 2010 was up by 12% compared with July 2009, while the value of imports was down by 1%.

When figures compared with the same period in 2009, data for January to June 2010 showed that exports decreased by 1% or €562m to €43.538bn.

Medical and pharmaceutical products increased by 13% or €1.325bn.

Exports to Belgium (€7.194bn), Great Britain (€5.939bn), and the USA (€9.662bn) accounted for 52% of the total value of exports in the first half of 2010.

Imports decreased by 4% or €1.057bn to €22.708bn.

Goods from the United States decreased by 14% or €648m, from France by 26% or €312m and from China by 21% or €310m.

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