Ireland's Trade Surplus Falls In November

A new report from the Central Statistics Office in Ireland showed that seasonally adjusted exports fell by 1% in November, relative to October 2009 and imports rose by 6%. In October 2009 exports had declined by 13% relative to September 2009 while imports fell by 5%.

On an unadjusted basis, the value of exports in November 2009 fell by 14% from November 2008, while the value of imports was down 18%. The value of exports in October 2009 was down 14% on October 2008 and the value of imports was down 28%.

A comparison of the Preliminary November 2009 to November 2008 data shows a drop in machinery and chemical exports to most destinations with the exception of an increase in the export of chemicals to the UK. Machinery imports increased from the USA but fell from elsewhere. There was a general decrease in the importation of chemicals to Ireland.

The January-October figures for 2009 when compared with those of 2008 show that exports decreased from €72,042m to €70,943m (down by 2%).

The export of goods to Britain decreased by 16%, Germany by 21%, France by 7%, the North by 21% and the Philippines by 68%, while those to Belgium increased by 27%, the United States by 12% and Japan by 7%.

Imports decreased from €48,920m to €37,346m (down 24%).

Imports from Great Britain were down by 32%, Germany by 40%, China by 32%, the Netherlands by 20% and Japan by 46% while imports from the United States increased by 15%, Canada by 19% and Kuwait by €42m.