Friday 28 April 2017

Trade surplus hits record high in August

Preliminary figures for August show that seasonally adjusted goods exports rose by €1.4bn, or 16pc, to €10.3bn compared with July, while imports fell by 2pc. Photo: Bloomberg
Preliminary figures for August show that seasonally adjusted goods exports rose by €1.4bn, or 16pc, to €10.3bn compared with July, while imports fell by 2pc. Photo: Bloomberg
Colm Kelpie

Colm Kelpie

The goods trade surplus surged by 43pc last month to a record high, according to official figures.

Preliminary figures for August show that seasonally adjusted goods exports rose by €1.4bn, or 16pc, to €10.3bn compared with July, while imports fell by 2pc.

That means the trade surplus increased by €1.5bn to about €5bn in August.

On an annual basis, the value of goods exports rose by 17pc, or €1.4bn.

Davy Stockbrokers economist David McNamara, said goods exports had "bounced back" in August after a relatively weak start to the year.

"A surge in exports on the month and a drop in imports mean that the trade surplus reached a record high of €5bn," he said.

Irish Independent

Promoted articles

Also in Business