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NEW CENTRAL STATISTICS Office figures show an increase of exports by €154 million or 2.2 per cent to €7 billion from January 2013.
Meanwhile, seasonally adjusted imports decreased by €69 million or -2 per cent to €3.8 billion.
This resulted in an 8 per cent trade surplus of €3.1 billion.
Comparing February this year with the same month last year, the value of exports decreased by 10 per cent to €6.6 billion. The main changes in the export market were decreases in the exports of medical and pharmaceutical products (-15 per cent) and organic chemicals (-18 per cent).
Overall, the EU accounted for 58 per cent of total exports and America was the main non-EU destination accounting for 22 per cent of all exports in February.
Comparing February this year with February last year, the value of imports decreased by 2 per cent, while imports of petroleum and related materials decreased by 21 per cent.
Two-thirds of imports in February came from the EU, with one-third coming from Great Britain, 9 per cent from the USA and 6 per cent from China.
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So is it the 21% drop in petroleum products that caused the over all drop in imports? More evidence that the cost of fuel is surpressing our economy, Then they continue to contemplate taxing it more. Its a joke how out of touch our ‘leaders are with what effects our economy.
A drop in petroleum can be a number of reasons. We’re using more and more fuel efficient cars and people are being mindful of costs, using more public transport and cycling.
Considering the risks of peak oil and its inevitable decline, it’s in our long term interest to be using less of the black stuff.
Most people don’t have a choice,it’s just very expensive,that’s reason# 1 for me €120 a week.no control on the costs ,if only we had some oil of our own.pathetic politicians!
These are certainly all reasons for a drop, 21% in a year though sounds much more like a drastic drop in activity rather than a shift to alternates. Public transport figures are not rising by much. We certainly need alternatives to oil. Peak oil has very little to do with current pricing, per barrel its speculators in the markets driving the price. But my real point being the amount of tax that is levied on petroleum product is just another form of austerity that will have a direct negative impact on economic activity.
@ Davis,
Still at it i see On message as usual, Peak oil is now a proven myth. There’s more oil available on the planet than anytime previously and people are using it less in this country because by and large they are broke thanks to your tools and their focus on licking Mario and Angela’s ar&ses rather than focus on their core vote not because of your wooly theories. Funny thing though. I thought of you last night while watching the Panorama program on North Korea and if ever the time comes to make the impassioned propoganda announcment on RTE and we need our own tool to do it then you are the man
If imports are down by -2 per cent, does that mean they’re actually up?
Well it means we are buying less from abroad and more money is staying inside Ireland.
I think you’re missing Garys point sergé
Oh I see it now. They have two negative statements which makes it a plus i.e. “down by (minus) 2%”. Yeah I think TheJournal should get rid of the unnecessary minus sign unless they actually mean imports are up by 2%.
Isn’t it amazing. This good news gets 7 comments. The prospect of the public service unions rejecting CP2 already has over 80. You’d nearly think people are hoping for bad news about the country to “prove” the rhetoric they spout. But that couldn’t be right.
Vincent , Kevin Dildo, What are we supposed to call you now. You clowns insist on fiddling while the domestic economy is being devoured by your(FG) impotent policies. It is now confirmed within the Civil Service that your ministers and Juniour ministers are even more incompetent than the prior batch and are more concerned with kissing babies shaking hands with nobodies, as long as there is a camera present, or opening a supervalu for one of their buddies than making any changes that might benefit the taxpayer. Cometh the hour there will be a reaping and all the old tools will retire on their inflated pensions and most of the younger tools will go to the senate or the dole.
Read the whole article Vincent, this isn’t good news, exports are down 10% from the same month last year. And exports are the only positive in our economy.
boo vincent boo
The labelling regulations have made it harder for supermarkets etc to pretend food is from Irish Republic while actually from Ireland (UK) registered companies
Ireland was a net exporter of food while millions starved during the Great Famine.
Just saying that some stats are not the entire picture by themselves…
Do we have an 8% trade surplus or did our trade surplus increase by 8%. I think the latter but it sounds like the first from reading the article.
have your say