McGuinness welcomes latest trade figures

Minister for Trade and Commerce John McGuinness has today welcomed the latest trade figures released by the Central Statistics Office.

The figures show that the value of merchandise exports in July 2007, at €7.4bn was up 5% on July 2006, while the level of imports rose by 4%.

“The figures are indeed encouraging and represent an impressive performance by exporters,” said McGuinness.

“It is pleasing to note that in the first seven months of this year, compared to the same period last year, our exports rose from €50.1bn to €53bn - an increase of 6%”.

First estimates for August 2007 show exports down 1% on the same month last year, while the value of imports was down 3%.

While exports to Ireland’s traditional trading partner Great Britain increased by 10% from €7.76bn to €8.5bn, goods to Switzerland increased from €1.4bn to €1.86bn, up 32%, with exports to Belgium up 7% to €7.6bn.

Exports to China and Hong Kong showed a rise of 34% from €778m to €1bn. Exports to the Philippines rose to €527m up from €203m, an increase of 159%.

Exports of organic chemicals increased from €9.7bn to €12,2bn, up 26%, general industrial machinery rose from €696m to €854m, an increase of 23%.

Beverages rose from €603m to €728m representing an increase of 21%, while eggs and dairy products increased by 20% from €666m to €799m.