Latest trade figures show signs of economic recovery - Minister Kelleher

21 October 2010

The Minister for Trade and Commerce, Billy Kelleher TD, has said the merchandise trade figures published today [Thursday] show strong signs of economic recovery.

The figures for August show that exports increased by 13pc compared with the same month last year.

‘The figures build on a 12pc increase in the value of exports in July compared to last July.

‘They indicate a reversal of the negative trend for the earlier months of the year when between January and April exports fell by 6pc compared to the same period last year.

‘The new figures show that goods exports for the first eight months of the year are up 2pc on the same period last year,’ said Minister Kelleher.

Exports of medical and pharmaceutical products rose by 12pc between January and July.

Imports increased by 12pc in August compared to the same month last year, showing that businesses are buying more raw materials.

‘The latest figures demonstrate the resilience of Irish exporters in difficult times and vindicate the Government’s investment in export-led economic recovery.

‘Net exports contribute significantly to Gross Domestic Product growth and our continued strong export performance is key to our overall recovery,’ said Minister Kelleher.

ENDS

Bernard Mallee, Press Adviser to Minister Batt O'Keeffe, Department of Enterprise, Trade and Innovation, on Tel: +353 1 631 3944, Mobile: +353 87 9173022, Email: bernard.mallee@deti.ie