Exports boost for trade surplus

NOVEMBER saw a marked recovery in Ireland’s trade surplus, with a strong export performance pushing it up to €4.3 billion, its highest level ever.

According to the latest Central Statistics Office figures, Irish export value rose — on a monthly basis — by 5% in November, to €8bn. Coupled with a 6% fall in import value, to €3.7bn, this resulted in the record trade surplus.

However, commentators — noting recent predictions that export performance is likely to slow this year — warned that the sector cannot be solely relied upon for economic growth. Illustrating the fragility at play, October’s external trade figures showed an 11% monthly fall in the trade surplus to just over €3.7bn, on back of a 4% fall in export value.