Analysis: "Will the real Ireland please stand up" screamed one headline, after Ireland's Jekyll and Hyde performance against France in the Six Nations cup. Yesterday's trade figures exhibit the same schizophrenia.

Exports of food and live animals, beverages and tobacco, and miscellaneous manufactured articles turned in pedestrian, but not disastrous performances, with growth values rising by an unspectacular 5 per cent year-on-year between January and November (full year figures are available only for total exports).

But exports of organic chemicals rose by a staggering €3 billion, or almost 8 per cent, year-on-year - though the sector's share of manufacturing employment is less than this would suggest. But in export terms, this sector is the new kid on the block.

Office data processing machinery was once the star performer but is these days turning in modest performances as manufacturing heads to eastern Europe and Asia.

The difference between these two high-tech sectors has a portent for the future. Ireland's once strong advantage - low labour costs - is being eroded. Some key players, such as Intel, are immune from this having sunk deep roots in terms of research and development investment. But, broadly speaking, this sector's game is deteriorating.

The biochemical and pharmaceutical sector is different. Pioneers like Amgen are exploiting an emerging cluster of suppliers and customers in this country - a kind of advantage less easily blown away by the race to the bottom. But it is a solitary performer in an uninspiring pack. Without it, exports would have barely grown.

Of the €4.4 billion annual jump in import values between January and November last year, a cool €1 billion was accounted for by hikes in oil prices. Buoyant consumer demand for telecommunications equipment and cars added another €1 billion.

The former is a contributor to Ireland's declining competitiveness. The latter indicates that consumers remain willing to party on, in spite of that decline.