The value of exports fell by 19 per cent in the first six months of this year compared with 2002, according to the latest figures from the Central Statistics Office.
Exports decreased from €49,560 million to €39,992 million in the first half of last year. The figures showed imports were 23 per cent lower at €23.3 billion.
The CSO said: "A very significant fall in the pattern of distributive type trade in Electrical machinery and parts with Great Britain in 2002 has a very large influence on year-on-year comparisons of both exports and imports for 2003 and the latter part of 2002."
The seasonally adjusted trade surplus fell to €2.7 billion in June from €3.0 billion the previous month
The seasonally adjusted value of exports in June was €6.5 billion, down from €6.6 billion, while the value of imports was €3.8 billion, up from €3.6 billion previously.
The CSO's first estimate for July put exports at a seasonally adjusted €6.7 billion and imports at ?3.8 billion, giving an estimated trade surplus of €2.9 billion.