Irish Trade Surplus Narrows 21% in February


Irish seasonally adjusted trade surplus decreased by 21 percent to €3,772 million February of 2016, from record high €4796 million surplus in the previous month. Exports declined by 7 percent while imports rose 9 percent. Year-on-year, the non-seasonally adjusted value of exports edged up 0.5 percent, led by higher sales of electrical machinery, while imports decreased 1 percent mainly due to lower purchases of petroleum.

Seasonally adjusted exports declined by €616 million to €8,758 million in February from €9,374 million in January while imports increased by €409 million to €4,987 million from €4,578 million, preliminary figures showed.

Year-on-year, the non-seasonally adjusted value of exports grew €40 million or 0.5 percent to €8,388 million, led by higher sales of electrical machinery (+155 percent) and food and live animals (+5 percent). The EU accounted for €4,600 million or 55 percent of total goods exports of which €1,290 million went to Belgium and €984 million to the UK. The US was the main non-EU destination accounting for €2,068 million or 25 percent of total exports.

Meanwhile, imports went down by €64 million or 1 percent to €4,944 million, mainly due to lower purchases of petroleum (-32 percent); while imports of organic chemicals rose by 47 percent and road vehicles increased by 30 percent. The EU accounted for €3,064 million or 62 percent of the value of goods imports, with €1,243 million of total imports coming from the UK. The US with €624 million or 13 percent and China with €333 million or 7 percent were the main non-EU sources of imports.  

Irish Trade Surplus Narrows 21% in February


CSO | Yekaterina Guchshina | yekaterina@tradingeconomics.com
4/15/2016 12:46:28 PM