Exports received a boost in July, rising by €380 million in seasonally adjusted terms over June, the Central Statistics Office said yesterday. Together with a fall of €175 million in imports, this resulted in a trade surplus of €2,889 million - significantly higher than in June.
The new figures suggest a tentative improvement on trends in the first half of the year. Figures for the period from January to June show that export values rose by a modest 3 per cent year-on-year, driven by exports of high technology goods to accession states of the European Union and, to a lesser extent, the US.
This compared with faster growth of 6 per cent in imports over the period, driven by a strong increase in imports from China and Singapore.
Goodbody Stockbrokers economist Dermot O'Leary said the first-half performance reflected high oil prices and strong imports of computer products. Imports of mineral fuels rose in value by 25 per cent in the first six months of the year.
He also noted that the "competitive international trading environment continues to pose challenges for Irish exporters".
"Exports for January to June 2006 were ahead a meagre 1.3 per cent on the same period last year," Mr O'Leary said. "Imports, on the other hand, powered ahead, growing in volume terms by 6.6 per cent."
Trade minister Michael Ahern said Ireland was "continuing to perform well in a difficult trading environment caused by rising oil prices".
He also welcomed the "sizeable" increase in exports to the United States (up 7 per cent), Germany (8 per cent stronger) and Belgium (6 per cent ahead).
"These are important markets for us and it is heartening to see that the export trend in this area is positive."
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