Preliminary figures from the CSO show that the value of exports in February 2011 compared to February 2010 was up by 14 percent while imports were up by 18 percent. Seasonally adjusted exports were up by 11 percent in February 2011, while imports were down by 3 percent for same period. This equals an increase of 33 percent in the seasonally adjusted trade surplus to €3,829m.
Exports
Figures for January 2011 compared with January 2010 show that exports decreased by 1 percent. Reductions during this period were seen in medical and pharmaceutical products (decrease of 11 percent); exports to Belgium (28 percent); and exports to Switzerland (55 percent reduction). Exports to Great Britain increased by 25 percent and to France by 26 percent. Furthermore, the USA dominates with over half of all exports (equalling €1,536m) followed by Great Britain (€1,103) and Belgium (€889).
Imports
In January 2011, imports increased by 26 percent as compared with January 2010. There were substantial increases in imports of merchandise such as transport equipment and road vehicles (60 percent). Imports from the US increased (109 percent), as did imports from Great Britain (21 percent). Import of organic chemicals decreased by 9 percent as did goods from Denmark (36 percent). Great Britain, the USA and Germany account for the largest portion of imports with figures coming in at €1,295m, €747m, and €318m for each respectively.
The Minister for Minister for Jobs, Enterprise and Innovation Richard Bruton TD, has welcomed the latest statistics stating that “The Government’s policy of improving Ireland’s competitiveness continues to be a priority and the trade figures now being achieved are a reflection of the Governments efforts in this regard”.