Kitt Welcomes Ireland's Trade Surplus of £8.2 billion (€ 10.4 billion) for January - April 2001 Ireland continues to be a highly competitive location for export-oriented businesses - Kitt We remain vigilant to ensure Irish companies can work successfully through the more difficult trading conditions now prevailing in the US - Trade Minister

Trade Minister Tom Kitt, T.D., today (Thursday 26 July 2001) welcomed the 41% increase in Ireland’s trade surplus recorded in the January - April 2001 trade figures, which were issued today by the Central Statistics Office.

The trade surplus for January - April 2001 grew by 41% on the same period last year to total £8.2 billion (€ 10.4 billion). Ireland’s trade with the United States, Germany, France and the Netherlands accounted for £5.2 billion (€ 6.6 billion) or 63% of this surplus.

The value of merchandise exports for January - April 2001 totalled £24 billion (€ 30.5 billion), an increase of 24% over the same period last year. Initial indications for May 2001 value exports at nearly £5.5 billion (€ 7 billion). The European Union accounted for 61% of Ireland’s exports. As regards our two largest trading partners, Great Britain accounted for 19.6% of exports, while 17.7% of exports went to the United States.

Markets showing particularly strong growth included our three biggest export markets, the United States, Great Britain and Germany, with growth of 47%, 19% and 53% respectively. Non-EU markets showing healthy export growth include the Philippines (+194%) and Switzerland (+71%).

"These figures indicate that Ireland continues to be a highly competitive location for export-oriented businesses" Minister Kitt said.

The Minister commented on the excellent performance of Irish exports in the context of the slowdown in the United States. "While our exports to the United States have shown a substantial increase over the first four months of the year, we must remain vigilant to ensure that Irish companies can work successfully through the more difficult trading conditions which prevail at the moment".

"In this context, efforts to diversify the export base of Irish companies through initiatives such as the Asia Strategy have a key role to play", he continued. "My Department will also be looking at how best we can take advantage of the movement begun by the Taoiseach’s recent trip to Latin America".