Merchandise exports down 3% to €86bn last year

Ireland's merchandise exports fell by 3% to €86.2bn last year, according to the latest figures from the Central Statistics Office.

The CSO says the decline was largely driven by a 26% fall in exports of computer equipment and exports generally held steady in other areas.

Elsewhere, imports for 2008 were down 10% to just under €57bn, party due to significant declines in the importing of computer equipment and road vehicles.

This means Ireland's balance of trade (the difference between exports and imports) actually increased by 14% to more than €29bn in 2008.