THE VALUE OF Irish exports increased in November, newly released figures from the Central Statistics Office show.
A seven per cent increase (€552 million) to €8,008 million from October to November was noted.
Seasonally adjusted imports decreased by €481 million (-11 per cent) to €3,724 million resulting in a 32 per cent increase in the seasonally adjusted trade surplus to €4,284 million.
The value of exports decreased by €305 million (-4 per cent) to €8,291 million year on year, from November 2012 to November 2011.
Exports of chemicals and related products decreased by €177 million (-3 per cent) with a decrease of €774 million in medical and pharmaceutical products partially offset by an increase of €427 million in organic chemicals and €126 million in essential oils.
On an overall basis, the EU accounted for €4,684 million (56 per cent) of total exports in November 2012, and he USA was the main non-EU destination for exports accounting for 18 per cent of total exports in that month.
Comparing November 2012 with November 2011, imports decreased by €251 million (-6 per cent) to €3,908 million. The larger decreases were for imports of mineral fuels, lubricants and related materials (down €116 million), chemicals and related products (down €105 million) and machinery and transport equipment (down €62 million).
Two-thirds of the value of imports in November 2012 came from the EU, with 35% coming from the UK. The USA (8 per cent) and China (7 per cent) were the main non-EU sources of imports.