Trade surplus falls to eight-year low

IRELAND’S trade surplus narrowed to the smallest in eight years in December, with exports and imports both falling significantly.

The surplus, adjusted for seasonal swings, was €1.3 billion, compared with €1.9bn in November and €2bn in December 2006 — its smallest surplus since January 2000, when it was €1.27bn.

A trade surplus refers to the positive balance of trade, which is the difference between the monetary value of exports and imports over a certain period of time.