CSO reveals record trade surplus for June

The Central Statistics Office has released figures that show Ireland's seasonally adjusted trade surplus had an increase of 8% to €4.079bn in June.

The numbers highlighted Ireland's exports which were worth €7.9bn while imports were valued at €3.82bn in June.

Detailed figures for the first five months of this year show that exports are 6% ahead of the same period a year earlier.

The news was welcomed by Enterprise Minister Richard Bruton.

“I am delighted that the recent good news on the export front is continuing," Minister Bruton said.

"It is indeed heartening to know that despite the turbulent international markets into which we are exporting, our exports are continuing to perform to an extremely high level."

Business leaders also welcomed the figures.

"The fact that we have just recorded the highest seasonally adjusted trade surplus ever highlights once again the almost unique potential for Ireland, as opposed to many other Eurozone countries, to export our way towards economic recovery," said Seán Murphy of Chambers Ireland.

"Another source of confidence is that some of the biggest areas for growth in the first five months of 2011 compared with 2010 were in medical and pharmaceutical products which increased by 14%, organic chemicals by 7% and dairy products which increased by 47%," he added.

"These broad-based sectors which are driven by both domestically-based and foreign direct investor companies will continue to be in demand regardless of how the global economy is performing.”

Meanwhile employers group IBEC said the figures show that Ireland's export-led economic recovery remains on track.

" Ireland is continuing to experience an export-led recovery, with strong exports of traditional goods, such as dairy and meat products, as well as high-tech goods, such as medical devices and chemicals," said IBEC head of trade Pat Ivory.

"The highly open nature of the Irish economy means that exports are making a substantially higher contribution to GDP and economic recovery than in most other countries."