Minister Kelleher welcomes latest trade figures

Minister for Trade and Commerce, Mr. Billy Kelleher TD, today 25^th June, expressed strong satisfaction with the latest merchandise trade statistics, released today by the Central Statistics Office.

Preliminary figures for April 2009 show that Exports rose by 6% compared with the same month last year. Combined with a fall in Imports of 27% over the same period, this resulted in a trade surplus for the month of just over €4bn, the highest monthly surplus in eight years and the second highest on record. In addition, detailed data now published for the period January - March 2009, shows that exports for that quarter rose by 2% on the first quarter of 2008, with a strong performance in March having counteracted the decline that occurred in January and February. With data for four months of the year now available, our merchandise exports are running at 3% higher than the corresponding period in 2008.

The Minister said, “The figures are very encouraging and represent an impressive performance by exporters”. The Minister went on to say “it is very heartening to note that the latest data shows a welcome recovery in exports compared with the somewhat disappointing data for the first two months of this year and also the latter months of 2008. This is even more impressive when account is taken of the global downturn and the adverse exchange rate between the Euro and both the US$ and £ Sterling, which increases the cost of our exports to the US and Britain, Consequently, trade is now playing a very significant role in driving the economy”.

The detailed data for the first quarter of the year shows significant increases in exports to Switzerland (+53%), Belgium (+20%) and USA (+18%). Commodities showing exceptional growth were Scientific apparatus (+32%), Medical and Pharmaceutical products (+19%) and Organic chemicals (+18%). Categories of Imports that fell significantly were Road Vehicles (-76%), Iron and Steel (-50%) and Petroleum products (-28%).