A fall in exports in November and a rise in imports saw the Exchequer trade surplus narrow sharply, according to the Central Statistics Office (CSO).
In the month, the value of exports fell 3 per cent to €7.33 billion, while at the same time the value of imports rose 10 per cent to €5.58 billion. The data has been adjusted to take account of seasonal patterns.
According to the CSO, additional transport equipment and the increased price of fuels were behind the rise in imports.
Over the first ten months of the year the value of exports grew 4 per cent, compared with the same period in 2006, and stood at just under €72 billion.
Over the period, exports of eggs and dairy products grew by 25 per cent. The value of exports to China and Hong Kong grew by a third over the period to reach €1.6 billion.