Trade surplus increases by €194m in August

The value of Irish exports fell by 1 per cent to €8.6 billion in August while goods imports dropped by 6 per cent to €4.9 billion.

As a result, the State’s overall trade surplus for the month increased by €194 million or 6 per cent to €3.7 billion.

The EU accounted for €4.2 billion or 52 per cent of total exports in August, of which €1.08 billion went to Belgium, followed by €1.02 billion to the UK.

The USA was the main non-EU destination accounting for €1.7 billion (22 per cent) of total exports in August 2015.

The unadjusted value of goods exports for August 2015 was €8.1 billion representing an increase of €394 million (+5 per cent) when compared with August 2014.

Exports of medical and pharmaceutical products rose by €702 million or 39 per cent to €2.5 billion in August compared with August 2014 while exports of organic chemicals increased by €450 million or 23 per cent to €1.4 billion.

Exports of machinery and transport equipment fell by €144 million or 16 per cent to €787 million over the same period.

The unadjusted value of goods imports for August 2015 was €4.4 billion representing a decrease of €185 million or 4 per cent when compared with August 2014. Imports of petroleum fell by €47 million (-13 per cent) in August 2015 compared with August 2014.