Non-EU trade still down on 2002

Trade between Irish companies and countries outside the EU picked up slightly in April but activity for the year to date remains depressed compared with last year, according to new data from the Central Statistics Office (CSO).

The seasonally adjusted data show that non-EU exports were worth almost €2.8 billion in April, up 5 per cent on March and 9 per cent ahead of the same month in 2002.

Unadjusted figures for the first four months of the year point to a generally weakening trend, however, with the overall value of non-EU exports over the period down 2 per cent on the same months of 2002 at €10.95 billion.

Exports of computers dropped by 16 per cent to €1.64 billion year on year, while the most substantial fall was recorded in telecommunications and sound equipment exports, which were more than halved to €188 million.

The numbers show that growth was weak in almost every export category, with organic chemicals and pharmaceutical products offering the most substantial signs of expansion.

Non-EU exports in the chemical sector were up 7 per cent to almost €5.5 billion over the period.

On a country basis, the figures suggest that exports to the US have held up well amid unfavourable currency movements and consequent price increases, with export trade growing by 6 per cent on an annual basis up to the end of April.

Exports to Mexico rose 57 per cent to €254 million.

Weaker domestic demand appears to have damaged import trade, however, with the value of goods imported from the US in the first four months down 33 per cent on 2002 at €2.16 billion.

Imports from China increased by 76 per cent to €567 million over the same period, while overall non-EU imports were 11 per cent lower at €6.12 billion.