Exports showed gains in August – CSO
THE VALUE of August exports increased by 10pc to just under €7.8bn, compared with July new figures from the Central Statistics Office show.
Although there are fears that export figures could dip in the future as the world economy slows down, for the first seven months of the year exports are 4pc up compared with the same period last year at €54.3bn.
Medical and pharmaceutical exports are up 11pc while chemical products rose by 8pc.
On the downside, computer equipment fell by 10pc.
Exports to the US gained by 9pc while those to France and Germany were also stronger.
August imports also rose by 6pc to €4bn.
“The bottom line is that while trade volumes may weaken, they should still show low single digit growth,” said Alan McQuaid, chief economist at Bloxham Stockbrokers.
“ Following a record merchandise trade surplus of €43.5bn in 2010, it now looks like the surplus in 2011 will be in the €42-€44bn range.”