Exports soared in August to reach an all-time monthly high. New data from the Central Statistics Office shows that the seasonally adjusted trade rose by €1 billion in August, also a new record.

Preliminary figures indicate that the value of goods shipped abroad rose 16 per cent compared with July, to stand at €9.1 billion.

The €9 billion monthly threshold was breached only once before, in May 2002. Imports, meanwhile, were up 5 per cent on the previous month at almost €4.2 billion.

That left the monthly surplus at €4.92 billion for August, the highest on record. NCB Stockbrokers’ Philip O’Sullivan described the export figures as “a stunning performance”, and noted that exports were strong across all of the key headings in August. Year on year, the value of exports rose 18 per cent, or €1.27 billion.