Exports fell by 9% in September

Exports fell in September, reversing gains made in August, according to trade figures released yesterday by the Central Statistics Office (CSO).

The figures also show the rapidly increasing importance of China as a source of imports to Ireland.

When seasonal factors are taken into account, the value of exports dropped by 9 per cent in September to €7.22 billion, down from €7.97 billion in August. Although partly offset by a 3 per cent fall in imports, the drop in exports brought the monthly trade surplus, the balance of exports over imports, to its lowest level since February.

With the exception of that February figure, September's trade surplus was lower than any other month since January 2003.

Exports in September were also 2 per cent lower than the same period in 2005, while imports were 1 per cent lower than the equivalent month.

September's trade performance reflected a weak performance by the largely foreign owned chemical and manufacturing sectors, CSO data suggests.

More detailed figures, available for the year to August, show exports increasing annually by just 3 per cent in that period, half the growth rate of imports. Import rises also outstripped export growth in the preceding two years, bringing the annual trade surplus in 2005 to €30.65 billion, its lowest level since 2000.

In the year to August, imports from China reached €2.74 billion, an increase of 21 per cent on the €2.26 billion recorded for the same period of 2005.

Imports from Japan and the US fell by 19 per cent and 14 per cent respectively.