The value of exports increased by 4 per cent in the first half of this year compared to the corresponding period in 2006, with the value of imports also rising by 4 per cent.

Detailed trade figures released yesterday by the Central Statistics Office (CSO) show exports rose to over €45.6 billion for the first half of the year and imports increased to €30.2 billion.

In the shorter term, the value of exports grew by 6 per cent in July to just under €7.75 billion, while imports grew by 1 per cent to just over €5 billion, according to the CSO data.

The export growth between January and July was driven by large increases in chemical exports, which rose 28 per cent to €10.55 billion, beverage exports were up 26 per cent to €597 million and machinery exports rose 23 per cent to €746 million.

Exports to Britain rose 8 per cent to €7.2 billion, exports to Switzerland increased by two- thirds to €1.76 billion, while exports to the Far East jumped by 36 per cent to €882 million.

The main factor in the rise in imports was transport equipment including aircraft, which almost trebled to €1.9 billion.