Exports fall 2% in year to April

The value of Irish exports dropped 2 per cent to €28.8 billion in the year to April, according to unadjusted figures released by the Central Statistics Office (CSO) today.

A month-on-month comparison based on seasonally adjusted data shows the value of exports in April was down 5 per cent compared to March at €7.02 billion.

The value of imports has also fallen, dropping 10 per cent in April compared to the previous month, according to the seasonally adjusted data.

For the first three months of the year exports of computer equipment declined 25 per cent to €2.507 billion compared with the same period in 2007.

Over the period, exports of chemical products grew 45 per cent to €811 million while medical and pharmaceutical exports grew 7 per cent to €3.95 billion.

The seasonally adjusted trade surplus in April was €2.339 billion, as against €2.13 billion in March and €2.50 billion in February.

Exports to Switzerland fell by 42 per cent to €499 million in the period January to March compared with the same period in 2007, while exports to Germany were 11 per cent lower at €1.51 billion.

Exports to the United States grew marginally to €4.03 billion while Exports to China and Hong Kong by 36 per cent over the period to €618 million.

The slowdown in new car sales has led to a 14 per cent fall in the value of cars imported to €1.328 billion. Imports of computer equipment also declined, falling 26 per cent over the period to €1.834 billion at the end of the first quarter.