Irish Trade Surplus Widens Sharply in October


Irish trade surplus increased by 29 percent to €4,428 million in October of 2015, compared to an upwardly revised €3,438 million surplus in the previous month as exports expanded by 17 percent while imports rose at a slower 10 percent.

Seasonally adjusted exports went up by €1,533 million to €10,299 million in October from €8,766 million in September while imports increased by €544 million to €5,871 million from €5,327 million, preliminary figures showed.

Year-on-year, sales grew €2,304 million or 29 percent to €10,236 million, boosted by a massive 108 percent increase of organic chemicals exports and by a 29 percent growth of medical and pharmaceutical products shipments. Also, sales of electrical machinery, apparatus and appliances and parts increased by 36 percent. The EU accounted for €5,031 million or 49 percent of total goods exports of which €1,329 million went to Belgium and €1,186 million to the UK. The US was the main non-EU destination accounting for €2,632 million or 26 percent of total exports.

Meanwhile, imports rose by €483 million or 9 percent to €5,952 million, mainly due to higher purchases of road vehicles (+47 percent), medical and pharmaceutical products (+32 percent) and other transport equipment, including aircraft (+15 percent). Imports excluding other transport equipment, including aircraft grew 8 percent. The EU accounted for €3,809 million or 64 percent of the value of goods imports, with €1,482 million of total imports coming from the UK. The US (€720 million or 12 percent) and China (€445 million or 7 percent) were the main non-EU sources of imports.

Irish Trade Surplus Widens Sharply in October


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/15/2015 11:27:56 AM