CSO asked to separate multinational exports

The Minister for Enterprise, Trade and Employment, Michael Ahern has asked the Central Statistics Office to separate multinational export statistics from the rest of industry.

The move comes after the Irish Exporters Association expressed its alarm over a 15% decrease in export figures for the third quarter of 2003 and an estimated further fall of 12% by year’s end.

The IEA fears that multinational export figures may mask a serious decline in overall export figures.

It also highlighted the damaging effect of the strengthening euro, with export prices being marked down by 12% in the year to September.

According to IEA Chief Executive, John Whelan: ”Export sales continue to fall at an alarming rate, margins are being eroded with the continued strengthening of the euro, and costs at home continue to rise faster than our major trading partners.

“Exporters are particularly worried that the euro will strengthen further to 1.20 to the US dollar by year end.

"This could affect the only major market to show growth this year - the USA - which is now the primary destination for Irish exports,” Whelan added.