Exports continue to surge despite blip

Ireland’s trade balance is expected to show a first increase in five years, this year, as the broad-based recovery in export performance continues.

That is despite preliminary CSO figures yesterday showing a 5%/€437m month-on-month dip in export value, to just over €9bn for May; which — when coupled with a 4% increase in import value — resulted in a 14% fall in the seasonally-adjusted trade surplus to €3.97bn. However, on a year-on-year unadjusted basis, export value jumped 8% in May – an increase of €673m to just over €8.8bn.

Pharmaceutical and medical products drove May’s figures; but the CSO also noted that the latest data was affected by a revision/re-valuing of its calculations. This particularly affected aircraft-related trade.