Irish Trade Surplus Widens 22% in June


Irish seasonally adjusted trade surplus increased by 22 percent to €4,502 million in June 2016 compared to a downwardly revised €3,676 million surplus in the previous month, as exports rose 5 percent while imports fell 8 percent. Year-on-year, the non-seasonally adjusted value of exports went up 2 percent, boosted by rising sales of medical and pharmaceutical products; while imports dropped 12 percent.

Seasonally adjusted exports increased by €413 million to €9,553 million in June from €9,140 million in May while imports fell by €412 million to €5,051 million from €5,463 million, preliminary figures showed.

Year-on-year, the non-seasonally adjusted value of exports went up €227 million or 2 percent to €10,138 million, boosted by higher sales of medical and pharmaceutical products (+12 percent) and electrical machinery, apparatus and appliances (+109 percent) while exports fell for petroleum, petroleum products and related materials (-59 percent). The EU accounted for €5,046 million (50 percent) of total goods exports in June 2016 of which €1,264 million went to Belgium and €1,091 million to Great Britain. The US was the main non-EU destination accounting for €2,724 million (27 percent) of total exports in June 2016.

Meanwhile, imports dropped by €709 million or 12 percent to €5,102 million compared with June 2015, mainly due to lower purchases of medical and pharmaceutical products (-25 percent); while imports rose for road vehicles (+36 percent) and organic chemicals (+25 percent). The EU accounted for 62 percent of the value of goods imports, with €1,260 million (25 percent) of total imports coming from Great Britain. The US with €671 million (13 percent) and China with €339 million (7 percent) were the main non-EU sources of imports.

In the first half of the year, the trade surplus increased to €24.3 billion from €20.9 billion in the same period of 2015, as exports advanced 1 percent to €55.4 billion while imports contracted 8 percent to €31.1 billion.

Irish Trade Surplus Widens 22% in June


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/15/2016 11:35:44 AM