Trade figures still dominated by movements in pharma sector

Exports decreased by 4 per cent to €7.6 billion in June, according to the latest trade figures from the Central Statistics Office (CSO).

Imports, meanwhile, fell by 7 per cent to €4.3 billion.

As a result, the seasonally adjusted trade surplus for June increased by €21 million or 1 per cent to €3.36 billion.

On an annual basis, the value of exports increased by €439 million or 6 per cent to €7.8 billion.

The CSO said the main drivers were exports of organic chemicals which rose by 54 per cent (€649 million), exports of professional, scientific and controlling apparatus which increased by 27 per cent (78 million) and exports of food and live animals which jumped by 7 per cent or €51 million.

The EU accounted for €3.8 billion or 49 per cent of total exports in June. The US was the main non-EU destination accounting for 27 per cent (€2 billion) of total exports in June.

On the other side, the value of imports increased by 4 per cent to €4.2 billion in June on an annual basis, driven by a 70 per cent increase in imports of organic chemicals.

The EU accounted for 63 per cent of the value of imports in June, with 31 per cent coming from Britain. The US accounted for 12 per cent while China accounted for 6 per cent.