Ahern welcomes boost in trade figures

The Minister for Trade and Commerce Mr Michael Ahern has given a cautious welcome to the trade figures issued today by the Central Statistics Office.

The figures show an increase in the value of exports of 4% for the January to July period, with preliminary figures for August showing that the rate of increase was maintained in that month.

Seasonally-adjusted merchandise trade for August 2004 show exports increased by 6% to €7.38bn on July 2004 and imports increased by 7% to €4.35bn (preliminary figures).

Relative to June 2004, exports for July 2004 increased by 3% to €6.973bn but imports decreased by 2% to €4.074bn.

The unadjusted merchandise trade for August 2004 give exports of €6.22bn, an increase of 6% on the August 2003 level of €5.885bn, and imports of €3.82bn, an increase of 12% on the August 2003 figure of €3.4bn.

The July exports are €6. 964bn, an increase of €298m (+4%) on July 2003, while imports increased slightly to €3.868bn.

Comparing the aggregate January to July 2004 figures with the same period in 2003 shows

- Exports increased from €46.932bn to €48.916bn (+4%) -

- Medical and pharmaceutical products increased from €7.82bn to €8.988bn (+15%) and Professional, scientific & controlling apparatus from €1.669bn to €2.222bn (+33%) but Computer equipment decreased from €8.187bn to €7.366bn (-10%).

- Exports increased to Belgium from €5.613bn to €7.507bn (+34%) and to Italy from €2.001bn to €2.28bn (+14%).

- Exports decreased to Great Britain from €7.798bn to €7.536bn (-3%), to Germany from €3.852bn to €3.566bn (-7%) and to the USA from €9.972bn to €9.898bn (-1%). Imports increased from €27,448m to €28,275m (+3%)

- Other transport equipment (including aviation) increased from €265m to €866m and Organic chemicals from €1.016bn to €1.388bn (+37%).

- Computer equipment decreased from €4.44bn to €4.383bn (-1%) and medical and pharmaceutical products from €1,313m to €1,114m (-15%).

- Imports from China increased from €1.092bn to €1.507bn (+38%) and from France from €1.085bn to €1.236bn (+14%). Imports from Japan decreased from €1.358bn to €1.253bn (-8%).