The Republic has recorded its first ever trade surplus with Japan, JETRO, the Japanese trade board, said last night.

Reversing the position of 1995, Japan imported some £1.39 billion of Irish goods and services, against exports to the Republic of £1.26 billion.

Over one third of Irish exports to Japan are of chemicals and pharmaceuticals, while the bulk of imports are made up of computer equipment and cars, JETRO said.