Ireland only EU state where exports increased

IRELAND was the only country in the EU where exports increased in the first half of the year, however, it suffered a decline in construction which was three times the EU average.

Exports increased by 1% between January and July this year compared to the same period last year. Imports fell by 20%, leaving a trade surplus of €19.4 billion. Only Germany had a higher surplus at €59.4bn for the six months.

Fergal O’Brien, economist at IBEC, the employers body, said exports were boosted by pharmaceuticals, up by 20% and medical devices, up by 10%. These sectors account for up to 60% of the country’s total exports.