Source: CSO

Seasonally adjusted Irish merchandise exports  rose by 11% in September, relative to August 2009 and imports fell by 2%. August 2009 exports declined by 6% relative to July 2009 while imports fell by 4%. The US-owned medical and pharmaceutical products offset losses in other sectors, according to the CSO.

On an unadjusted basis, the value of exports in September 2009 was unchanged from September 2008, while the value of imports was down 26%. The trade surplus was up 43% to €4bn. The value of exports in August 2009 was down 11% on August 2008 and the value of imports was down 25%.

Comparison of the Preliminary September 2009 to September 2008 data shows an all round drop in trade with the UK and a rise in exports to the US. Chemical exports to the rest of the EU and Switzerland grew as did Machinery imports from the USA. Imports of Machinery from the EU, China, Japan and Rest of World fell.

The January-August figures for 2009 when compared with those of 2008 show that:

• Exports at €56,982m were €30m down from €57,012m - - Computer equipment decreased by 27%, Electrical machinery by 28%, Metalliferous ores by 54% and Industrial machinery by 33%.
• Medical and pharmaceutical products increased by 24%, Organic chemicals by 10%, Other transport equipment (including aircraft) by 167% and Professional, scientific and controlling apparatus by 12%.
• Goods to Great Britain decreased by 15%, Germany by 20%, Northern Ireland by 22% and the Philippines by 68%.
• Goods to Belgium increased by 31%, the United States by 13%, Spain by 6% and Bermuda by €119m.
• Imports decreased from €39,477m to €30,390m (-23%) - - Road vehicles decreased by 78%, Computer equipment by 42%, Petroleum products by 38% and Iron and steel by 64%.
• Other transport equipment (including aircraft) increased by 57%, Power generating machinery by 12%, Professional, scientific and controlling apparatus by 6% and Medical and pharmaceutical products by 2%.
• Goods from Great Britain decreased by 32%, Germany by 43%, China by 30% and Japan by 49%.
• Goods from the United States increased by 20%, Canada by 22%, Kuwait by €42m and India by 17%.

In fairness to the Cork TD, Billy Kelleher, who has the title,  "Minister for Trade and Commerce," we produce his statement below in full.

It is the type of fantasy commentary that is not uncommon on exports from Ireland and he may well have just signed off on a civil servant's work or more accurately ignorance .

A person who is unfamiliar with the Irish market would not believe that US-owned firms are responsible for about 90% of merchandise exports.

So the comment on exports to the US increasing, despite the rise of the euro against the dollar, is ridiculous.

As for Belgium, somebody should tell Billy Kelleher why that location is one of the principal destinations for Irish exports.

It is Europe's principal freight trans-shipment point.

Statement:

The Minister for Trade and Commerce, Mr. Billy Kelleher, T.D., today welcomed the latest trade statistics published by the Central Statistics Office today. The preliminary seasonally adjusted figures for September 2009 show that relative to August 2009, exports rose
by 11%, while on an unadjusted basis the value of exports in September 2009 was unchanged from the same month last year, with the value of imports down 26%. The trade surplus was up 43% to €4 billion.

The Minister went on to say that “there were significant increases in exports of medical and pharmaceutical products, which were up 24%, and organic chemicals which rose 10% with professional, scientific and controlling apparatus rising 12%,” adding that “given the adverse impact often attributed to the strength of the Euro compared to the US dollar, it was very encouraging to note that our exports to the US were up 13%.

Reflecting the continued drive to maintain our Euro area exports, our exports to Belgium and Spain also increased - - by 31% and 6% respectively.”

Between January 2009 and August 2009 when compared to the same period last year, there was a decrease in our imports of 23%, which reflected a fall-off in the import of road vehicles (down 78%), petroleum products (down 38%) and iron and steel by 64%. The reduction in imports has meant our trade surplus has risen to €27 billion for the January-August 2009 period, compared to €18 billion for the same period in 2008.

The Minister also welcomed the latest data from the European Commission’s statistical agency, EUROSTAT, which shows that for the period January 2009 - - August 2009, Ireland has the second largest trade surplus of the EU Member States, second only to Germany. The EUROSTAT figures also show that some of the major economies in the EU, such as the UK, France and Spain recorded trade deficits. The Eurostat data also shows that Ireland’s exports were virtually stable (-1%) for the period compared to the same eight months of 2008, while in most other Member States, exports fell by over 20%.

Given this overall positive trend, the Minister said “Irish exports continue to be a key factor in contributing to our future economic recovery and the work of my Department and its industrial development agencies will continue to focus on the importance of our exports as a driver to develop our economy. Their focus will not only be on our well established markets, but also the new and emerging markets for Ireland such as the United Arab Emirates, to which I led a trade mission last week”.

The Minister concluded by saying “this focus on trade success will greatly assist in overcoming the wider and very challenging economic climate ahead”.