Pharmaceutical goods deliver exports boost

Figures for surging exports, particularly for pharmaceutical goods, have underscored the exceptionally favourable factors currently benefiting Irish firms.

The CSO said yesterday goods’ exports rose to almost €10.3bn on a seasonally-adjusted basis in October, increasing more than €1.53bn in the single month, and surging almost €2.43bn from October 2014.

The slump in the value of the euro against sterling and the dollar in the past year has provided a huge boost to firms exporting into Britain and the US because goods and services sold in those markets are made so much more competitive against local rivals, at a time when wage growth is very low in the Republic.