Trade surplus down by nearly €2bn
Ireland's seasonally adjusted trade surplus decreased by €1.984 billion in September as imports rose in the month, new data from the Central Statistics Office showed today.
As a result, the seasonally adjusted trade balance narrowed to €2.9 billion in September, from August's record monthly high of €4.9 billion.
Seasonally adjusted imports increased by €220 million (or 5 per cent) in the month, while exports decreased €1,764 million (or 19 per cent) from the August high of €9,074 million.
Compared with September 2011, the value of exports is down by €512 million or 6 per cent.
Exports of organic chemicals decreased by €512 million in the month, while medical and pharmaceutical products declined by €261 million.
The large increase in the sub-category of organic chemicals in August’s data appears to have been a one-off jump, possibly due to timing factors, Glas Securities said in a note.
"Exports in this segment were 27 per cent higher year-on-year in August, but were 27 per cent lower year-on-year in September."
Exports of food and live animals increased (up €43 million), as did exports for mineral fuels (up €48 million).