Source: CSO

The value of Irish merchandise exports fell 8% in year to November, while the value of imports plunged 28%, according to the CSO.

Seasonally adjusted imports fell by 2% in November relative to October 2008 and exports fell by 4%. Relative to September 2008, imports fell by 2% in October 2008 while exports held steady.

On an unadjusted basis, the value of imports in November 2008 was down 28% on November 2007 while the value of exports was down 8%. The value of imports in October 2008 was down 18% while the value of exports was down 3% on October 2007.

The January-October figures for 2008 when compared with those of 2007 show that:

Exports decreased from €74,958m to €72,339m (-3%) – Computer equipment decreased by 27%, Organic chemicals by 10%, Vegetables and fruit by 42% and Metalliferous ores by 20%.

Chemical materials increased by 39%, Medical and pharmaceutical products by 12%, Professional, scientific and controlling apparatus by 26% and Petroleum products by 50%.

Goods to Switzerland decreased by 21%, the Netherlands by 17%, Germany by 9%, Great Britain by 4% and the Philippines by 48%.

Goods to China increased by 21%, Malaysia by 51%, Spain by 10% and Poland by 38%.

Big monthly changes should be viewed with caution.

Foreign-owned companies are responsible for about 90% of Ireland's exports and destinations can change from time-to-time on decisions made overseas rather than in Ireland.

Imports decreased from €52,384m to €48,368m (-11%) – Computer equipment decreased by 25%, Road vehicles by 23%, Special purpose machinery by 19% and Electrical machinery by 14%.

Petroleum products increased by 18%, Natural gas by 38%, Fertilisers by 68% and Medical and pharmaceutical products by 14%.

Goods from Great Britain decreased by 5%, China by 17%, France by 13%, Taiwan by 31%, Japan by 25%, South Korea by 36% and Germany by 11%.

Goods from Denmark increased by 53%, the Netherlands by 7%, Poland by 56%, Russia by 65% and Finland by 35%.