Exports volumes picked up significantly in February and March, according to new figures from the Central Statistics Office. They provide further evidence that industry is benefiting from stronger international growth. Cliff Taylor, Economics Editor, reports.

Exports in February of €7,304 million showed an 8 per cent monthly increase from January and preliminary seasonally adjusted figures show exports held this higher level in March, reaching €7,310 million. Yesterday's figures showing exports in March running 16 per cent higher than the same month in 2003.

The CSO figures show a fairly flat trend in imports in recent months, with a €3,620 total in March leaving a seasonally adjusted surplus of exports over imports of €3,690 million, up from €3,450 million the previous month and the highest surplus since mid-2002.

Contrary to indications from recent industrial production figures, the data show exports of chemicals and related products up to €6,178 million in the first two months of 2002, compared to €5,671 million in the same period last year. This was mainly due to a pick-up in February in this area. A sub-sector of this area - medical and pharmaceutical products - showed a 13 per cent rise to €2,494 million. Exports of computer equipment decreased by 8 per cent to €2,095 million.

The figures show a 59 per cent rise in exports to Belgium to €2,156 million.