Kitt - Ireland's Trade Performance in 2000 "Outstanding"Exports totalled € 83 billion (£65 billion) the highest level on record Trade Minister Export growth remains well above the global and EU averages Tom Kitt

Minister for Trade, Tom Kitt T.D., today (Thursday 26th April, 2001) welcomed the very positive trade performance recorded in the trade figures for the year 2000, which were released today by the Central Statistics Office (CSO).

Minister Kitt said, "The CSO trade release shows that Ireland’s merchandise trade performance in 2000 was outstanding" .Exports totalled over £65 billion ( € 83 billion ) "the highest level ever recorded ". The trade surplus exceeded all previous records and grew by 23% to stand at £22 billion ( € 28 billion ) for the year.

"The value of Irish exports increased by 24% in 2000. Our export growth remains well above the global and EU averages. This reflects an exceptional trade performance by Ireland’s very competitive exporting sector, which has gone from strength to strength".

1.UK £14.3 billion ( € 18.1 bn ) + 23% 2. US £11.2 billion ( € 14.3 bn ) + 38% 3. Germany £7.4 billion ( € 9.4 bn ) + 17% 4. France £5.0 billion ( € 6.3 bn ) + 12% 5. Netherlands £3.6 billion ( € 4.6 bn ) + 11% 6. Belgium £3.1 billion ( € 4 bn) + 16% 7. Italy £2.6 billion ( € 3.3 bn ) + 31% 8. Japan £2.5 billion ( € 3.1 bn ) + 60% 9. Switzerland £1.6 billion ( € 2 bn ) + 26% 10. Spain £1.6 billion ( € 2 bn ) + 10%

These ten markets accounted for nearly 81% of merchandise exports in 2000. Exports to the accounted for nearly 62% of merchandise exports and exports to the zone countries accounted for 37% of merchandise exports last year.

Markets showing particularly strong growth for exports in 2000 included the United States, Japan, Germany, the UK, Italy, South Korea and switzerland.

Exports to the Eurozone accounted for over £24 billion ( € 30.5 billion ) , an increase of 15% on 1999. The fastest growing Eurozone market was Italy with an increase of 31% over 1999. Exports to the United Kingdom, our largest trading partner, increased by £2.7 billion ( € 3.4 billion ) to total £14.3 billion ( € 18.1 billion ) .

In addition, exports to non-EU countries increased by over 35% in 2000 to total over £25 billion ( € 32 billion ). The US, followed by Japan, Switzerland, South Korea, Malaysia, Philippines, Hong Kong, Norway, Australia and Singapore are our largest non-EU markets. Exports the US increased from £8.1 billion ( € 10.3 billion ) to £11.2 billion ( € 14.2 billion ) in 2000, an increase of 38% and this once again represents the highest level of exports ever recorded by Ireland to the US. The US is now our second largest export market and supplier of merchandise imports. South Korea was our fastest growing major market and recorded a very large increase of 196% or £556 million ( € 706 million ).

"This outstanding trade performance in the non-EU markets reflects the strength of the global economy in 2000"commented the Minister. "The increase in exports to Japan was also exceptionl, increasing by 60% or £923 million ( € 1.2 billion ) "he added.

Minister Kitt commented: "The exceptional growth of the exporting sector in 2000 is the key pillar around which Ireland’s exceptional economic growth is centred. Irish exporters are clearly competing successfully at world-class level and conscious of the recent economic slow-down in some of our markets these trade figures assure me that the exporting sector will continue to be competitive and support the continuation of Ireland’s success as a dynamic economy and trading nation in the years ahead."

The trade figures for 2000 highlight the continued strong growth of manufacturing exports. The industrial sectors showing the largest export growth and an increase in excess of £1 billion ( € 1.27 billion ) were computers, electrical apparatus and organic chemicals. Exports of computers reached £15 billion ( € 19 billion ), an increase of 29% or £3.4 billion ( € 4.3 billion ) over 1999. Exports of electrical apparatus totalled £6 billion ( € 7.6 billion ), an increase of 49% or £2 billion ( € 2.5 billion ) over 1999. Exports of organic chemicals reached £13.2 billion ( € 16.8 billion ), an increase of 47% or £4.2 billion ( € 5.3 billion ) over the 1999 level.

"The continued strong export performance of these sectors once again proves Ireland's competitiveness as a base for exporters who are in the business of marketing products in the computer, electronics and chemical/pharmaceutical sectors" said the Minister.