Menu
23/08/2011
€4bn Irish Trade Surplus Welcomed
It has emerged today that the latest trade statistics indicating a €4.079bn seasonally adjusted trade surplus in June is the highest figure in a decade.
Trade Minister Richard Bruton today welcomed the news and said that the figures show that the value of exports in June 2011 was up 5.6% compared to June 2010, at €8.343bn.
Ireland's Merchandise Trade surplus in June was €4.473bn - the highest since June 2001.
For the first six months of the year the trade surplus stands at €21.9bn compared with €21.2m in the first half of 2010 - an increase of 3.3%.
Merchandise exports for the first six months of this year at €46.9bn are up 6.1% compared to the first half of last year.
Detailed country specific data for the first five months of 2011, also published today, show healthy increases in exports to both key traditional markets and to the new high potential destinations, over the same period in 2010.
Exports to the United States increased by 11.8% to €9.08bn. The importance of the U.S. market will be underpinned when Minister Bruton leads a trade mission there in mid September.
Exports to the EU rose by 4.2% to €22.336bn in the first five months of 2011. Within the EU there has been some very important export achievements to countries such as the Czech Republic where in the first five months of 2011 exports grew by 95% to €235m and to Sweden by 25% to €345m.
In addition, some high potential markets on which there has been a particular focus recently have shown very substantial growth over the same period, with exports to Brazil increasing by over 9% to €112m and exports to India, (where the Minister led a trade mission earlier this year) growing by 30% to €83m. Exports to South Korea increased by 5.3% to €141m.
"I have said repeatedly that my priorities are to; get our costs down, get credit to good businesses and to support the innovation and R&D agenda.
"These trade figures show what our entrepreneurs can achieve when the conditions are right and only encourage me further to pursue this agenda so that we can continue to support export-led growth and recovery," he said.
"These are very welcome trends and show that Irish business is rising to the challenge of seeking out new markets and winning new business. These figures emphasise both the importance of trade to the economy and its potential to be a significant contributor to recovery.
"The Government is devoting considerable effort to the food sector, which is so important for Irish owned firms. It is indeed heartening to see that food exports grew by over 19% to €3.151bn, while key high technology exports in areas such as medical and pharmaceutical products grew at a very fast pace. We are strengthening our already leading position in that area."
The Minister also welcomed data released by EUROSTAT, the EU statistics body last week, which showed that Ireland had the third largest Trade surplus of the 27 Member States for the five months January - May 2011 (after Germany and the Netherlands).
(BMcC/GK)
Trade Minister Richard Bruton today welcomed the news and said that the figures show that the value of exports in June 2011 was up 5.6% compared to June 2010, at €8.343bn.
Ireland's Merchandise Trade surplus in June was €4.473bn - the highest since June 2001.
For the first six months of the year the trade surplus stands at €21.9bn compared with €21.2m in the first half of 2010 - an increase of 3.3%.
Merchandise exports for the first six months of this year at €46.9bn are up 6.1% compared to the first half of last year.
Detailed country specific data for the first five months of 2011, also published today, show healthy increases in exports to both key traditional markets and to the new high potential destinations, over the same period in 2010.
Exports to the United States increased by 11.8% to €9.08bn. The importance of the U.S. market will be underpinned when Minister Bruton leads a trade mission there in mid September.
Exports to the EU rose by 4.2% to €22.336bn in the first five months of 2011. Within the EU there has been some very important export achievements to countries such as the Czech Republic where in the first five months of 2011 exports grew by 95% to €235m and to Sweden by 25% to €345m.
In addition, some high potential markets on which there has been a particular focus recently have shown very substantial growth over the same period, with exports to Brazil increasing by over 9% to €112m and exports to India, (where the Minister led a trade mission earlier this year) growing by 30% to €83m. Exports to South Korea increased by 5.3% to €141m.
"I have said repeatedly that my priorities are to; get our costs down, get credit to good businesses and to support the innovation and R&D agenda.
"These trade figures show what our entrepreneurs can achieve when the conditions are right and only encourage me further to pursue this agenda so that we can continue to support export-led growth and recovery," he said.
"These are very welcome trends and show that Irish business is rising to the challenge of seeking out new markets and winning new business. These figures emphasise both the importance of trade to the economy and its potential to be a significant contributor to recovery.
"The Government is devoting considerable effort to the food sector, which is so important for Irish owned firms. It is indeed heartening to see that food exports grew by over 19% to €3.151bn, while key high technology exports in areas such as medical and pharmaceutical products grew at a very fast pace. We are strengthening our already leading position in that area."
The Minister also welcomed data released by EUROSTAT, the EU statistics body last week, which showed that Ireland had the third largest Trade surplus of the 27 Member States for the five months January - May 2011 (after Germany and the Netherlands).
(BMcC/GK)
Related Irish News Stories
Click here for the latest headlines.
11 January 2013
Irish Exports Grow By 5%
Irish exports grew by 5% in the year, which was double the World trade growth, and shows a return to competitive strength in many sectors of Irish industry. Exports surged by €9 billion in 2012 to reach a new high of €183 billion.
Irish Exports Grow By 5%
Irish exports grew by 5% in the year, which was double the World trade growth, and shows a return to competitive strength in many sectors of Irish industry. Exports surged by €9 billion in 2012 to reach a new high of €183 billion.
22 July 2015
8 Per Cent Increase In Goods Exports
Goods exports reached €8.8 billion in May 2015, an increase of 8% compared to the same time last year, according to CSO figures. In the first five months of 2015, goods exports reached €44 billion, an increase of 18% compared to the same period in 2014.
8 Per Cent Increase In Goods Exports
Goods exports reached €8.8 billion in May 2015, an increase of 8% compared to the same time last year, according to CSO figures. In the first five months of 2015, goods exports reached €44 billion, an increase of 18% compared to the same period in 2014.
18 January 2012
Exports 'Resilient' With 9% Increase
The Minister for Jobs, Enterprise and Innovation has welcomed the latest external trade figures which show a 9% increase in unadjusted exports for November. The figures published by the CSO on Tuesday, which showed a 5% seasonally-adjusted increase, also showed an increase in trade surplus in November of 16% to €4.31billion, its highest level ever.
Exports 'Resilient' With 9% Increase
The Minister for Jobs, Enterprise and Innovation has welcomed the latest external trade figures which show a 9% increase in unadjusted exports for November. The figures published by the CSO on Tuesday, which showed a 5% seasonally-adjusted increase, also showed an increase in trade surplus in November of 16% to €4.31billion, its highest level ever.
23 September 2009
Exporters Report Growth Yet Fear For Jobs
The Irish Exporters Association has revealed that Irish exports have bucked the trend, stepping into growth for the first half of 2009.
Exporters Report Growth Yet Fear For Jobs
The Irish Exporters Association has revealed that Irish exports have bucked the trend, stepping into growth for the first half of 2009.
27 June 2013
Economy Slips Back Into Recession - CSO
New figures show that the economy has slipped back into recession, according to the Central Statistics Office (CSO). In the first three months of the year, the economy contracted by 0.6%. A growth drop of 0.2% followed in the 4th quarter of 2012 after a decline of 1% in the 3rd quarter of last year.
Economy Slips Back Into Recession - CSO
New figures show that the economy has slipped back into recession, according to the Central Statistics Office (CSO). In the first three months of the year, the economy contracted by 0.6%. A growth drop of 0.2% followed in the 4th quarter of 2012 after a decline of 1% in the 3rd quarter of last year.
-
Ireland WeatherToday:After a mainly dry and bright morning cloud will increase as the wind strengthens from early afternoon with showers spreading east later. The strong afternoon wind will reach gale to severe gale force along the coasts. Maximum temperature 11 °C.Tonight:Showers die back to western parts from the evening, leaving much of the night dry with clear spells. Showers spread east again towards morning. Gales ease somewhat, a windy night. Minimum temperature 0 °C.
