Irish Trade Surplus Narrows 46% in July


Irish trade surplus decreased to a seasonally adjusted € 1.8 billion in July of 2014 from € 3.3 billion in June. It is the lowest trade surplus since December of 2007, due to a drop in exports.

Seasonally adjusted exports decreased by € 1,223 million (-16 percent) to € 6,488 million in July from June 2014. Imports increased by € 314 million (+7 percent) to € 4,687 million.

Comparing July 2014 with July 2013, the value of exports decreased by € 832 million (-11 percent) to € 6,769 million. The main drivers were decreases of € 626 million (-39 percent) in the exports of organic chemicals and € 395 million (-19 percent) in medical and pharmaceutical products. On an overall basis the EU accounted for € 3,868 million (57 percent) of total exports in July 2014. The USA was the main non-EU destination accounting for 17 percent (€1,154 million) of total exports. 

The value of imports increased by € 395 million (+10 percent) to € 4,415 million. Imports of machinery and transport equipment increased by € 199 million (+20 percent). The EU accounted for 64 percent of the value of imports in July 2014, with 30 percent coming from Great Britain. The USA (12 percent) and China (6 percent) were the main non-EU sources of imports.  

Irish Trade Surplus Narrows 46% in July


CSO | Joana Taborda | joana.taborda@tradingeconomics.com
9/18/2014 12:44:11 PM