Export trade strengthens

Export trade strengthened markedly in March, according to new trade figures released by the Central Statistics Office (CSO).

The seasonally-adjusted non-EU trade numbers show that exports from the Republic to countries outside the EU were 16 per cent stronger in March than in the same month of last year.

The growth lifted the value of non-EU exports to €2.97 billion in March, the highest level recorded for more 12 months.

Non-EU exports have now been climbing for almost seven straight months, with a dip in January the only negative spot in a drift upwards that began last September.

The trend sits well with a growing sense that an economic recovery has been taking firm hold in the Republic over the past couple of months.

A breakdown of trade figures for the January to March period shows that the January decline had a slight skewing effect on annual trends however, with exports in the first quarter down 1 per cent on the same months of 2003 at €8.16 billion.

A fall in organic chemicals was the biggest offender here, with non-EU exports falling by about €300 million to €2.4 billion over the year.

Computer exports outside the EU were also sharply weaker, declining by 22 per cent to €987 million. The most notable annual increase came in professional, scientific and controlling apparatus, where exports more than doubled to €774 million.