Recently released figures by the Central Statistics Office show that the value of Ireland’s merchandise exports for the November 2010 period increased by 17 percent compared to the same period in 2009, while the value of imports also increased by 2 percent. In total, this means a trade surplus increase of 37 percent to €4.086bn.
In the period January to October 2009 and 2010, medical and pharmaceutical products increased by 15 percent, organic chemicals by 3 percent; however, there was a decrease in exports of computer related products (32 percent) and transport equipment (70 percent). Exports to the USA increased by 10 percent, to Germany by 18 percent and to Switzerland by 40 percent. On the whole, exports to the USA, Belgium and Great Britain accounted for 52 percent of the total value of exports in the first ten months of 2010.
The figures were strongly welcomed by the Minister for Trade and Commerce, Billy Kelleher in a statement released yesterday. The increase of €4.45bn from January to February 2009 to €82.71bn in the same period in 2010 “is an impressive performance by our exporters in what are extremely difficult trading circumstances globally and reflect our sharply improving competitiveness”, Minister Kelleher stated. Minister Kelleher added that “the Government’s strategy of investing in an export-led economic recovery has produced results and we must ensure that this strategy is maintained.”