Irish Trade Surplus Narrows 12.5% in 2013


In 2013, Irish trade surplus decreased to € 37.25 billion, down from € 42.54 billion in 2012, hurt by lower exports of medical and pharmaceutical products and a fall in petroleum sales. This is the lowest annual trade surplus since 2008.

Preliminary figures for 2013 indicate a decrease in the value of exports (-5 percent) to € 86.89 billion from 2012. Exports of medical and pharmaceutical products decreased by € 2.934 billion (-12 percent) to € 21.617 billion; organic chemicals by € 1.762 billion (-9 percent) to € 18.291 billion and petroleum by € 824 million (-53 percent) to € 721million. In contrast, exports of food and live animals increased by 8 percent to € 8.748 billion.

In 2013, the United States (21 percent), Great Britain (14 percent), Belgium (13 percent) and Germany (8 percent) were Ireland’s main export markets, accounting for 56 percent of the value of exports.

Imports were up by 1 percent to € 49.635 billion. Imports of medical and pharmaceutical products rose 8 percent to € 4.509 billion and food and live animals by 8 percent to € 6.050 billion. Purchases of other transport equipment (including aircraft) decreased by € 1.486 billion (-60 percent). 

The Great Britain (32 percent), the United States (11 percent), Germany (8 percent) and China (6 percent) accounted for 56 percent of the value of imports.

Preliminary estimates for December of 2013 show seasonally adjusted exports of € 7.745 billion, up 11 percent on November 2013 and seasonally adjusted imports amounted to € 4.304 billion, down 3 percent. The trade surplus widened 35 percent to € 3.44 billion. 

Irish Trade Surplus Narrows 12.5% in 2013


CSO | Joana Taborda | joana.taborda@tradingeconomics.com
2/14/2014 2:50:59 PM