Trade surplus grows in July

 

Exports continued to rise in July, and the trade surplus also rose during the month, new data from the Central Statistics Office showed today.

The seasonally adjusted figures for exports rose 8 per cent between June and July to €7.9 billion. In the same period, imports decreased by 9 per cent to €3.7 billion, growing the trade surplus by 29 per cent to €4.2 billion.

In the period covering January to June, exports fell by 1 per cent compared to the same period in 2009, with computer equipment and organic chemicals showing the largest percentage decreases. Medical and pharmaceutical products increased by 13 per cent.

Meanwhile, imports fell by 4 per cent to €22.7 billion.

The Minster for Trade and Commerce, Billy Kelleher, said the monthly figures showed the economy was stabilising.

"These are very encouraging figures which show that our export sector is now bouncing back to strong growth as our economy stabilises," he said.

"Our recovery will be export-led and the Government is putting record levels of investment into the enterprise sector to stimulate the economy and create jobs so that we can return to economic growth in the near term."