HOPES FOR THE export-led economic recovery were given a boost today as new data shows that Irish exports rose by 10 per cent in August.
The Central Statistics Office figures are particularly good news as they follow a significant 12 per cent drop in exports in July.
In the month, the value of goods and services exported increased by 10 per cent to €7.8 billion. That is up considerably on July’s figure of €7 billion.
Compared to August 2010, exports were up by 5 per cent.
The value of goods and services imported into Ireland also increased in the month but by a lesser amount. Imports rose by 6 per cent to €4.1 billion.
As a result, the trade surplus widened by 15 per cent to €3.7 billion. The figure – the excess of exports over imports – fell substantially in July after recording a record high of over €4 billion in June.
In a further breakdown of this year’s external trade figures, the CSO noted that in the first seven months of 2011, exports have increased by 4 per cent.
The medical and pharmaceutical sector has seen a jump in its exports, as has the organic chemicals and petroleum business.
Exports to the USA have increased by 9 per cent despite double-dip recession fears, while France and Germany have also seen greater demand for Irish products and services.
In the first seven months of 2011, more than half of Ireland’s exports wen to either the USA, Belgium and the UK.
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