Trade surplus third highest in EU as lowest labour cost rise helps boost competitiveness

Ireland had the third highest trade surplus among the 27 EU member states in July and the lowest increase in hourly labour costs across the region, according to official figures released yesterday.

The country’s trade surplus was €20.9bn, which was behind Germany at €92.4bn and the Netherlands at €25.6bn.

The UK, in contrast, had the biggest fiscal deficit at €73.8bn.