Irish Trade Surplus Down 11% in May


In May, Ireland's trade surplus decreased to € 3.07 billion from € 3.45 billion registered in May of 2012. Exports, down 6 percent, fell at a faster pace than imports, down 4 percent, mainly due to plunging sales of pharmaceuticals and petroleum products.

The value of exports decreased by €448 million (-6 percent) to €7,183 million. The main drivers were a decrease of €579 million (-26 percent) in the exports of medical and pharmaceutical products and €132 million (-72 percent) in the exports of petroleum, petroleum products and related materials. The exports of organic chemicals increased by €157 million (+11 percent).

On an overall basis the EU accounted for €4,048 million (56 percent) of total exports in May 2013. The USA was the main non-EU destination accounting for 19 percent (€1,377 million) of total exports in May 2013. 

Imports decreased by €159 million (-4 percent) to €3,907 million. The largest decrease was €274 million (-93 percent) in the imports of other transport equipment (including aircraft). The EU was the source of 65 percent of the value of imports in May 2013, with 32 percent coming from Great Britain. The USA (10 percent) and China (6 percent) were the main non-EU sources of imports.

Comparing May with April, seasonally adjusted exports decreased €314 million (-4 percent) to €7,052 million from April. Seasonally adjusted imports decreased by €69 million (-2 percent) to €3,983 million resulting in a 7 percent decrease in the seasonally adjusted trade surplus.

Irish Trade Surplus Down 11% in May


CSO | Nuno Fontes | nuno@tradingeconomics.com
7/12/2013 11:16:25 AM