Trade is keeping our economy afloat

THE Irish economy has performed disastrously over the past three years but it appears that the domestic and trading economies are moving in opposite directions.

The domestic economy is now showing levels of economic activity comparable to those seen in 2003.

On the other hand, the contribution of trade to GDP has increased by 70% since 2007 and is at record levels. This increase in the trade balance has offset some of the drop in the domestic economy, and without this, Irish GDP figures would be even more horrific.