€4bn trade surplus hits highest level for eight years

IRELAND’s trade surplus hit its highest level for eight years in April, as exports put in a strong showing.

On an unadjusted basis, the surplus – the value by which exports exceed imports – reached just under €4 billion, the second highest level on record. Measured on a seasonally adjusted basis it reached record levels at €3.86bn.

Exports had a 6% increase on March’s levels and a 5% rise measured against April last year. Imports fell 6% in April compared with March. In the first three months of the year, the value of exports was up by 2% year-on-year to €21.84bn. By the same measure, import values shrank 20% to €12.52bn. The good showing on the export front was driven by strong rises in medical/pharmaceutical and chemical product exports.