Goods exports surge 19% in first half

The rapid growth in Irish exports paused in June from May, but were still much higher than a year earlier, official figures published yesterday show, probably boosted by the pick-up of the UK and US economies and the price benefits the falling euro provide exporting firms here.

The CSO said on a seasonally-adjusted basis exports of goods in June were little changed in the month, at €9.09bn, though were substantially higher from the €7.93bn recorded in June 2014.

Yesterday’s figures also show that exports of goods in the first six months this year totalled €53.87bn, a 19% uplift from the €45.32bn recorded in the first half of 2014.

Leading the charge were exports of chemicals, worth €31.96bn in the first half, and representing a 59% share of all goods exported during that period.

Chemical exports were up substantially from the €26.04bn recorded in the equivalent period a year earlier.

A broad range of miscellaneous manufactured goods, including optical and scientific instruments was the second largest group, accounting for €6.92bn in exports in the first six months.

This was followed by machinery and transport equipment exports, worth €6.56bn. Exports of food and live animals totalled €4.73bn in the first half of the year.

Economic surveys such as the Purchasing Managers’ Index have signalled the manufacturing sector here will likely continue to grow, driven by new export orders.

The fall in the euro against sterling of about 10% in the past year has also turbo-charged Irish-based exporters as they can sell into Britain at competitive prices.