Non-EU exports show drop of 11%

The downward drift in trade with non-EU countries gained pace in May, according to the latest release from the Central Statistics Office.

The figures suggest that the euro's continued strength is weighing heavily on Irish companies trying to sell their goods abroad at a time of global economic weakness.

They show that the value of non-EU exports in the first five months, at €7.6 billion, was 11 per cent lower than in 2002.

The drop extended in May, with the value of export trade dropping by 21 per cent to €2.7 billion when compared to the same month of 2002.

Imports have also suffered, registering an annual fall of 7 per cent to €13.6 billion over the first five months.

In May, non-EU imports were worth 10 per cent less than in the same month of 2002 at €1.5 billion.

When the period between January and May is taken as a whole, the most significant annual fall in exports came in computers, with exports declining in value by 18 per cent to €2 billion.

Exports of organic chemicals, previously one of the economy's most buoyant internationally traded sectors, fell by 8 per cent to €4.4 billion.

Trade in essential oils was significantly stronger, with non-EU exports surging by 82 per cent to €669 million.

On a country basis, demand for Irish goods declined most significantly in Japan, with exports falling by almost one-third to €839 million.

Figures for the US offer some reassurance however, with the value of exports falling by just 2 per cent to €7.2 billion, despite unhelpful currency trends.

Exports to Mexico posted the healthiest increase on 2002, with trade almost doubling to €291 million over the year.

Detailed import figures point meanwhile to the fragility of the Irish economy, with imports from the US sinking by 30 per cent to €2.7 billion and imports from Taiwan declining by 19 per cent to €315 million.

Chinese imports rose in value by 68 per cent to €693 million over the same period.