Source: CSO

Irish merchandise exports plunged 14% in October relative to September 2009 but were up by 11% in September compared with August, according to data from the CSO. Imports fell by 7% in October 2009 relative to September and were down 1% in September compared with August. On an unadjusted basis, the value of exports in October 2009 was down by 15% from October 2008, while the value of imports was down 30%. Exports to the UK were down 22% in the month of October.

There isn't a product category breakdown of October data but the US-owned chemical sector causes a lot of volatility and it's likely there will be a rebound in November.

UK exports fell from €1.37bn in October 2008 to  €1.06bn

A small number of US-owned pharmaceutical and medical devices' firms are responsible for almost 60% of merchandise exports.

The value of exports in September 2009 was stable compared with September 2008 and the value of imports was down 25%.

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

Exports at €64.4bn were down €35m from €64.5bn - - Computer equipment decreased by 25%, Electrical machinery by 28%, Metalliferous ores by 52% and Industrial machinery by 33%. Medical and pharmaceutical products increased by 22%, Organic chemicals by 11%, Other transport equipment (including aircraft) by 164% and Professional, scientific and controlling apparatus by 14%. Goods to Great Britain decreased by 15%, Germany by 21%, Northern Ireland by 22% and the Philippines by 68%.

Goods to Belgium increased by 30%, the United States by 14% and Japan by 10%.

The Belgium data usually prompts the incumbent Minister of State for Commerce to sprinkle some superlatives about the "success" of the Government's trade strategy. However, it reflects the transshipment role of Antwerp and Brussels - -  the latter for airfreight.

Imports at €33,842m were down €10,251m from €44,093m - -Computer equipment decreased by 43%, Road vehicles by 77%, Petroleum products by 39% and Iron and steel by 64%.

Other transport equipment (including aircraft) increased by 59%, Power generating machinery by 10% and Professional, scientific and controlling apparatus by 5%.

Goods from Great Britain decreased by 32%, Germany by 42%, China by 30% and the Netherlands by 21%.

Goods from the United States increased by 19%, Canada by 13% and India by 16%.

Comparison of the preliminary October 2009 to October 2008 data shows an all round drop in trade with the UK. Exports and Imports of machinery and transport equipment fell in respect of the main trading partners.

Producer Prices

The CSO also reported that producer prices fell 0.1% in November from October and annual prices dipped 6.5%.

Prices of building and construction materials fell 4.5% over a year, while prices of energy products dipped 9.5%. Petrol prices rose by 3.2% in the month and have risen 4.4% over a year.