Seasonally adjusted exports fell 4% in June - CSO data

SEASONALLY ADJUSTED exports decreased by 4 per cent in June while imports increased by 1 per cent, the latest data from the Central…

SEASONALLY ADJUSTED exports decreased by 4 per cent in June while imports increased by 1 per cent, the latest data from the Central Statistics Office (CSO)shows.

The CSO also released data showing that manufacturing prices fell by 0.8 per cent in July.

Relative to April, exports in May increased by 6 per cent while imports increased by 4 per cent, the CSO said.

The value of exports in June was down 8 per cent on the same month last year, while the value of imports was down 2 per cent.

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Figures for the first five months of the year show exports decreased from €37,671 million to €36,467 million (3 per cent) compared with the same period last year.

Exports of computer equipment decreased by 25 per cent, organic chemicals by 10 per cent, metalliferous ores by 20 per cent and general industrial machinery by 15 per cent.

Exports of chemical materials increased by 45 per cent, medical and pharmaceutical products by 11 per cent, and petroleum products by 71 per cent.

The data shows goods to Switzerland decreased by 27 per cent, to the Netherlands by 15 per cent, to Germany by 7 per cent and to the United States by 4 per cent.

Exports to China increased by 39 per cent, Malaysia by 92 per cent and Singapore by 11 per cent.

Imports decreased from €26,968 million to €25,382 million (6 per cent) during the same period.

Imports of computer equipment decreased by 23 per cent, other transport equipment (including aviation equipment) by 24 per cent and road vehicles by 18 per cent.

Petroleum products increased by 32 per cent, fertilisers by 84 per cent and medical and pharmaceutical products by 13 per cent.

Goods from China decreased by 14 per cent, Taiwan by 33 per cent, Japan by 17 per cent, the United States by 10 per cent, France by 19 per cent and Germany by 5 per cent.

Goods from Libya increased from €28 million to €81 million (188 per cent), Denmark by 37 per cent, Poland by 37 per cent, the Netherlands by 7 per cent, Russia by 161 per cent and Finland by 45 per cent.

The annual percentage change in manufacturing prices showed a decrease of 2.6 per cent in July, compared with a decrease of 2.8 per cent in June.

The data shows the price of energy products increased by 6.5 per cent in the year since July 2007, while petroleum fuels increased by 40.1 per cent.

Building and construction material prices increased by 4.5 per cent in the year.

In July 2008, there was a monthly increase in energy products of 1.4 per cent, while petroleum fuels increased by 4.2 per cent.

The price of capital goods increased by 2.9 per cent over the year, while there was a monthly price increase of 0.2 per cent.

Eoin Burke-Kennedy

Eoin Burke-Kennedy

Eoin Burke-Kennedy is Economics Correspondent of The Irish Times