Seasonally adjusted Irish exports decreased by 2% between
September and October and imports dipped by 11%, leading to an increase in the
seasonally adjusted trade surplus of 8% to €4.15bn. The CSO reported that on an
unadjusted basis, the value of exports in October 2010 was up by 19% compared
with October 2009 and the value of imports was down by 1% . This resulted in a
trade surplus increase of 41% to €4,294m. Meanwhile, Enterprise Ireland said on
Wednesday that 70% of lost indigenous exports have been recovered, while job
numbers in Irish-owned firms fell.
An analysis of trends between January and September of 2009 and
Exports increased by 3% or €2.00nn to €66.85bn:
pharmaceutical products increased by 13% or €2,106m. Metalliferous ores and
scrap metal increased by 83% or €298m.
decreased by 32% or €1.58bn.
Other transport equipment
(including aircraft) fell by 72% or €462m.
decreased by 9% or €243m.
Exports to the US
(€15.50bn), Belgium (€10.03bn) and UK (€9.13bn) accounted for 52% of the
total value of exports in the first nine months of 2010.
Imports decreased by 1% or €245m to €33.75bn:
Other transport equipment
(including aircraft) fell by 30% or €1.05bn.
decreased by 33% or €972m.
Imports of Petroleum
increased by 36%, Medical and pharmaceutical products by 27% and Road
vehicles by 73%.
Goods from the United
States decreased by 16% or €993m, from France by 21% or €370m and from China
by 9% or €187m.
Imports from Switzerland
rose by 122% or €380m and from Norway by 36% or €263m.
Minister of State for Trade, Billy Kelleher,
commented: "This is an amazing performance by our exporters in what are
extremely difficult trading circumstances globally and reflect our sharply
improving competitiveness, which is an aspect of our economy which the
Government will continue to pursue."
Politicians like simple explanations and while
competitiveness is important in the longer term, new orders do not arrive like
manna from heaven because of a change in an exchange rate or general costs.
US-owned pharmaceutical firms are responsible for
more than 50% of Irish merchandise exports and the majority of foreign trade is
between units of the same company rather than the market.
The sector employs less than 30,000 in a workforce of over 2m and as exports have surged in recent years, the numbers employed have fallen almost 10%.
Indigenous exports (goods and services) account
for 9% of Ireland's tradeable exports and in its End of Year Statement published
Wednesday, Enterprise Ireland estimates that its client companies grew export
sales in 2010, recovering in the region of 70% of the losses made in 2009.
Enterprise Ireland businesses reported an expansion in new export orders each
and every month in 2010 and this trend is set to continue. The agency expects
export sales from Enterprise Ireland clients in the order of €1bn in 2010 and
more importantly they will spend €19bn in the Irish economy.
In overall terms, the total number of people at
work (full time and part time) in Enterprise Ireland client companies was
156,577, a net decrease of 3,726, or -2.3%. Full-time employment in Enterprise
Ireland client companies stood at 137,241 in 2010. A total of 8,193 new jobs
were created by client companies with a net decline of 5,355.