Irish Trade Surplus Narrows to 5-Year Low


Preliminary figures for November of 2013 show that Ireland’s trade surplus decreased to € 2,538 million, the lowest seasonally adjusted trade surplus since August of 2008, mainly due to a surge in machinery purchases.

Comparing November 2013 with November 2012, the value of exports decreased 12.7 percent to € 7,009 million. The main drivers were decreases of 25 percent in the exports of medical and pharmaceutical products and -8 percent in the exports of organic chemicals.

On an overall basis, the EU accounted for 57 percent of total exports in November 2013. The USA was the main non-EU destination accounting for 20 percent.

Comparing November 2013 with November 2012, the value of imports rose 16 percent to € 4,472 million. Imports of machinery specialized for particular industries increased 175 percent.

The EU accounted for 65 percent of the value of imports in November 2013, with 33 percent coming from Great Britain. The USA (9 percent) and China (7 percent) were the main non-EU sources of imports. 

On a monthly basis, seasonally adjusted exports shrank 5 percent while imports increased 3 percent.

Irish Trade Surplus Narrows to 5-Year Low


CSO | Joana Taborda | joana.taborda@tradingeconomics.com
1/16/2014 11:52:48 AM