€1.9bn trade imbalance with China ‘does not represent complete picture’

THE €1.9 billion trade imbalance in China’s favour over Ireland does not reflect the complex business relationship between both countries, says Trade and Commerce Minister Michael Ahern.

Ireland imported goods worth €2.58bn from China last year and exported just €640 million in merchandise to China, creating a trade gap of €1.9bn between the two countries.

Mr Ahern said that while in terms of merchandise trade Ireland runs a substantial deficit with China, he hopes that we will be able to bring a little more balance to the relationship over coming years. He was speaking at the Competitiveness through China seminar, in Cork yesterday.