Trade surplus widens in September

Ireland's trade surplus widened in September as exports continued to climb, new figures indicated today.

Ireland's trade surplus widened in September as exports continued to climb, new figures indicated today.

The data from the Central Statistics Office showed seasonally adjusted exports rising by 2 per cent to €7.9 billion for the month, with imports declining to €3.8 billion, a 5 per cent fall.

This led to an 11 per cent rise in the trade surplus for the month.

On an unadjusted basis, the value of exports in September rose by 3 per cent compared to a year earlier, while imports fell by 3 per cent.

In the first eight months of the year, exports rose 4 per cent to €61.2 billion compared to a year earlier. This was led by exports of medical and pharmaceutical products. which rose by 11 per cent or almost €1.9 billion, and a 9 per cent climb in organic chemicals.

However, over the eight-month period the value of computer exports was 12 per cent lower.

Exports to the US were 8 per cent higher, while France and Germany rose by 12 per cent and 5 per cent respectively.

The US, Belgium and Great Britain accounted for more than half of the country's exports.

In the same period, imports were 7 per cent higher, rising to €32.3 billion. This was driven by a 27 per cent increase in petroleum imports and a rise in medical and pharmaceutical products.

Minister for Jobs, Enterprise and Innovation Richard Bruton welcomed the trade figures.

"If we are to see the recovery we are all working so hard to achieve, a strong export performance will be crucial. Clearly the current difficulties in the markets into which we export make this a lot more precarious. In that context, today's figures showing a continued strong export performance are extremely welcome," he said.

However, Mr Bruton warned that the global challenges would mean the country must redouble efforts to improve this performance.