| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: Feb 15, 2012 - 1:16 PM


Irish merchandise exports fell by 9% in December; Pharmaceutical patent expirations was a factor
By Finfacts Team
Feb 15, 2012 - 1:13 PM

Email this article
 Printer friendly page
Source: CSO

From a November high of €8.25bn, seasonally adjusted Irish merchandise exports fell by 9% to €7.50bn in December. Imports increased by 8% to €4.02bn, resulting in a 23% decrease in the seasonally adjusted trade surplus to €3.48bn. The Central Statistics Office said a substantial part of the decline in the value of exports was due to a high value product in the pharmaceutical sector coming off patent in December.

The figures for January to November of 2011 compared with the same period of 2010 show:

Exports increased by 5% to €85.74bn: Exports of Medical and pharmaceutical products increased by 11% or €25.66bn, Organic chemicals by 8% or €1.46bn, Dairy products by 26% or €340m and Meat by 15% or €316m.

Exports of Computer equipment fell by 11% or €446m.

Goods to the US increased by 6% or €1.11bn, to Great Britain by 4% or €480m and to France by 12% or €480m.

In the first eleven months of 2011, the US (23%), Belgium (15%) and Great Britain (14%) were Ireland’s main export markets.

Imports increased by 6% to €44,136m: Imports of Petroleum increased by 25% or €940m, Medical and pharmaceutical products by 23% or €746m and Organic chemicals by 23% or €438m. Imports from Great Britain rose by 14% or €1,726m and from Germany by 13% or €399m.

In the first eleven months of 2011, nearly one third (32%) of Ireland’s imports came from Great Britain.

Conall Mac Coille, chief economist at Davy comments:

Goods exports down in December but up in Q4

  • Irish goods exports fell from €8.25bn in November to €7.5bn in December;
  • This means that the value of Irish goods exports rose by 2.4% in Q4 over Q3;
  • Goods imports rose to €4.0bn in December, up from €3.7bn in November.

Trade balance declines in December

  • The trade balance fell to €3.4bn in December, down from €4.5bn in November;
  • The goods trade balance was €11.7bn in Q4, up from €11.2bn in Q3.

Goods export volumes bounce back in November following the values data

  • The goods volumes data lag values by one month;
  • Goods export volumes rose by 8.0% in November, to reach their highest level this year, following a 5.5% fall in October.

No clear evidence of a material slowdown in Irish exports

  • As is clear from the pattern of goods exports growth in 2011, we should not infer too much from one month's data - - specifically the sharp fall in December;
  • Goods export values rose in Q4 over Q3;
  • There is little tangible evidence that the contraction in euro area GDP in Q4 is pushing down on demand for Irish exports.

Check out our new subscription service, Finfacts Premium , at a low annual charge of €25 - - if you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to support the service.

It's a simple fact that in the prevailing economic climate, the provision of high quality content cannot be sustained through advertising alone. 

Business executives who put a premium on time and value high quality information, should use our service.

Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Corporation Tax Reform: Irish Government should reject pleadings of short-termists
Irish Economy: Bruton's claim of 70,000 jobs added in past 18 months is not correct
FDI in Ireland: Grant Thornton publishes promotional brochure not balanced report
Irish Banking Inquiry: Advisory group says begin crash saga 20 years ago
Moody's forecasts Irish growth rates "of at least 3% for the next few years"
Irish National Competitiveness Council fails to separate wheat from the chaff
Irish SME Finance: Oireachtas committee calls for less dependency on traditional banking
Irish Economy: Merchandise exports up 15% in May
Irish industrial production fell in May; up 32.3% in 12 months & 16.4% in period 2010-2014
Irish indigenous tradeable exports at 9% of total headline exports in 2013
Irish consumer prices up 0.4% in 12 months to June 2014
Official Irish services index fell in May; PMI survey level was at highest since 2007
US-Ireland Tax Inversions 600,000+ staff: Kenny, Noonan met with top US corporate lawyers
IDA Ireland: Jobs in Irish FDI exporting sector remain below 2000 level
Bord Gáis Irish Energy Index unchanged in June; Up 33% since December 2009
Irish Budget 2015: Ibec urges personal & business tax breaks; No wage hikes
German Bundestag committee warns Ireland has no plan for long-term growth
Irish Economy 2014: Recovery on track; keep champagne on ice
Forty American firms account for two-thirds of Irish exports
Irish pension managed funds returns were in range 6% to 7% in H1 2014
Irish Economy 2014: GDP up 2.7% in Q1; GNP up 0.5% - personal spending/ investment weak
Irish Economy 2014: Tax revenues €500m ahead of target; Social Protection spend down €20m
Irish Economy 2014: Services surge but Reality Check required
Irish Live Register + activation program total at 475,000 in June - 22% of workforce
Irish manufacturing output rises but not matched by sales value
Irish health spending among highest of developed world; Consultants best paid
Irish wholesale gas prices close to 4 year lows
In 2012 20,200 adults from ex-European Economic Area became Irish citizens
US tax inversions screw-up Ireland's national accounts; Bring few benefits
Irish Economy 2014: Volume of retail sales ex-cars fell in May
Irish SME firms' weighted default rate at 41%; Credit situation like Greece
Enterprise Ireland doesn't know how many active client firms it supports
Irish Economy: Economics institute says ‘Do Nothing’ stance in Budget 2015 insufficient
Sir Anthony O'Reilly's bitter twilight
Irish Jobs & Innovation: What should Ireland do? - Part 5
Claim EU - US trade deal could lead to 1.1% rise in Irish GDP - astrology or economics?
Irish Economy: Number of active enterprises fell 31,000 in period 2009-2012
Irish Economy: Ireland's ephemeral services export boom
Irish Economy 2014: IMF warns Ireland to "safeguard hard won credibility"
One quarter of Irish households jobless; More than double EU average