KITT WELCOMES IRELAND'S TRADE SURPLUS FOR THE FIRST EIGHT MONTHS OF 1998

The Minister for Trade, Mr. Tom Kitt T.D., today (Monday 7th December, 1998) welcomed the very large trade surplus recorded in the January to August 1998 trade figures released today by the CSO. The value of merchandise exports for the period January to August 1998 totalled £29 billion, an increase of 31% over the same period in 1997. The trade surplus for January to August 1998 totalled £8.8 billion, a massive 54% increase over the same period last year.

Merchandise exports for the month of August 1998 totalled £3.3 billion with the trade surplus totalling £1.1 billion.

Markets showing particularly strong growth for exports for the first eight months of 1998 included the US, Germany, Belgium and France. Merchandise exports showing very strong growth included computers and chemicals.

Minister Kitt commented that "these impressive trade figures combined with the sharp fall in unemployment confirm the very healthy state of the Irish economy in the run up to monetary union, now less than a month away".