A drop in exports of chemicals contributed to a 12 per cent in the value of goods sold overseas last year, data from the Central Statistics Office (CSO) showed today.
The figures show that exports of merchandise dropped to €82,176 million in the 12 months to December 2003. Over the same period imports were €47,525 million, down 14 per cent.
According to the CSO, a fall in imports and exports of electrical machinery and parts contributed to this decline. "A very significant fall in the pattern of distributive type trade in electrical machinery and parts with . . . Britain in 2002 had a very large influence on year-on-year comparisons of both exports and imports from 2003 and the latter part of 2002.
"While the comparisons of gross flows were considerably influenced, the net balance of trade was not significantly affected".
Exports of electrical machinery and parts decreased by 51 per cent to €5,128 million in 2003 with imports of same dropping 53 per cent to €4,660 million.
Exports of computer equipment dropping 15 per cent to €14,796 million. Exports to Britain fell 35 per cent from €20,853 million to €13,462 million.