Ireland Trade Surplus Widens Further in May


Irish seasonally adjusted trade surplus widened for the second straight month to €3.34 billion in May of 2014 from €2.8 billion in previous month, according to preliminary estimates. The surplus increased 16 percent mostly driven by a surge in exports of organic chemicals, and medical & pharmaceutical products.

Preliminary figures for May of 2014 show that seasonally adjusted exports increased to €7.9 billion from April of 2014 (+15 percent).

Comparing with a year earlier, the value of exports increased by €0.7 billion (+9 percent) to €7.9 billion in May of 2014. The main drivers were increases of €0.213 billion (+14 percent) in exports of organic chemicals and €0.197 billion (+12 percent) in medical and pharmaceutical products. On an overall basis the EU accounted for €4.119 billion (52 percent) of total exports in May 2014. The USA was the main non-EU destination accounting for 23 percent (€1.786 billion) of total exports in May 2014.

Seasonally adjusted imports increased to €4.5 billion in May of 2014 from the previous month (+14 percent).

Comparing May 2014 with May 2013, the value of imports increased by €0.34 billion (+9 percent) to €4.3 billion. Imports of machinery and transport equipment increased by €0.2 billion (+24 percent). The EU accounted for 62 percent of the value of imports in May 2014, with 29 percent coming from Great Britain. The USA (11 percent) and China (5 percent) were the main non-EU sources of imports.

Ireland Trade Surplus Widens Further in May


CSO | Isabel Felino | isabel.felino@tradingeconomics.com
7/14/2014 11:53:00 AM