Ireland’s trade surplus third highest among EU states in Q1 of 2012

Ireland had the third highest trade surplus among the 27 EU member states from January to April, according to Eurostat.

Ireland had a trade surplus of €13.4bn over the four-month period compared with €16.2bn for the Netherlands and €59.3bn for Germany.

The UK had the highest deficit at €51.8bn, followed by France and Spain.

Despite the ramp-up in the financial crisis in the region over the past year, the eurozone recorded a €6.9bn trade surplus in May, which compares favourably with a €1.2bn trade deficit for the same month in 2011.

The April eurozone trade surplus was €3.7bn compared with a €4.5bn deficit for the previous year. Seasonally adjusted, eurozone exports rose by 0.3% in May while imports fell by 1.7%.

The EU27 registered a €3.8bn trade deficit in May compared with a €14.5bn deficit for the same month in 2011. In the largest positive movements, the EU increased its trade surplus with Russia by 19% and Brazil by 18% between January and April.

The EU trade deficit with China was €44.5bn for the first four months of 2012 compared with a deficit of €50.1bn for the same period last year.

Inflation in the eurozone was 2.4% in June, unchanged from the rate posted in May but down from 2.7% in May 2011.

Inflation across the EU was 2.6% in June, up on the 2.5% rate seen in May but down from the 3.1% posted in May 2011.

Ireland has the second lowest inflation rate in the EU at 1.7%. The highest was recorded in Estonia and Hungary at 4.7%.

Alcohol and tobacco, housing, and transport saw the biggest price increases in June.