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| Source: CSO |
Irish seasonally-adjusted merchandise exports increased by 6% in April, relative to March 2009 and imports fell by 6%. Relative to February 2009, exports decreased by 5% and imports held steady in March 2009 - - boosted by US-owned chemical sector accounting for 60% of goods exports.
On an unadjusted basis, the value of exports in April 2009 was up 6%, while the value of imports was down 27% on April 2008.The value of exports in March was up 13% on March 2008 and the value of imports was down 9%.
The January-March figures for 2009 when compared with those of 2008 show that:
Exports increased from €21,482m to €21,838m (+2%) – Medical and pharmaceutical products increased by 19%, Organic chemicals by 18%, Professional, scientific and controlling apparatus by 32% and Other transport equipment (including aircraft) by 974% (€320m).
Electrical machinery decreased by 33%, Computer equipment by 26%, Chemical products by 21%, Telecommunications equipment by 33% and Industrial machinery by 39%.
Goods to the United States increased by 18%, Belgium by 20%, Bermuda by €70m and Switzerland by 53%.
Goods to China decreased by 12%, Northern Ireland by 20%, Great Britain by 9%, Germany by 15% and Malaysia by 37%.
Imports decreased from €15,611m to €12,516m (-20%) – Road vehicles decreased by 76%, Computer equipment by 33%, Specialised machinery by 56%, Industrial machinery by 34%, Electrical machinery by 14%, Iron and steel by 50%, Telecommunications equipment by 31% and Petroleum products by 28%.
Other Transport equipment (including aircraft) increased by 40%, Power generating machinery by 60%, Medical and pharmaceutical products by 6%, Organic chemicals by 3% and Animal feed by 13%.
Goods from Germany decreased by 47%, Great Britain by 29%, China by 22%, South Korea by 68%, Italy by 32% and Japan by 48%. Goods from the United States increased by 16%, Austria by 60%, Canada by 61%, India by 43% and Poland by 14%.
The Minister for Trade and Commerce, Billy Kelleher TD, expressed strong satisfaction with the latest data.
His comments relate to the headline data, merely for bragging rights purposes.
The export of aircraft is likely second-hand sales but the overwhelming factor in the performance is the US-owned chemical sector. The fall in sales to the UK impacts Irish-owned firms who rely on the UK market for half their shipments.
The Minister said, “The figures are very encouraging and represent an impressive performance by exporters. It is very heartening to note that the latest data shows a welcome recovery in exports compared with the somewhat disappointing data for the first two months of this year and also the latter months of 2008. This is even more impressive when account is taken of the global downturn and the adverse exchange rate between the Euro and both the US$ and £ Sterling, which increases the cost of our exports to the US and Britain, Consequently, trade is now playing a very significant role in driving the economy.”
Kelleher's predecessor John McGuinness used to also issue similar statements on how "heartening" the data was.
SEE: Irish Economy: Home Truths on Irish Exports as Ireland faces a changed global economy in the decade ahead
