Exports and imports hit record levels in June. Figures published by the Central Statistics Office (CSO) yesterday also show that sales to the US in first five months of the year were almost as high as those to the Republic's biggest trading partner Britain.

The data led one economist to predict that growth this year would be the strongest yet and the highest in the world. Dr Dan McLoughlin, chief economist at ABN Amro, said GDP growth of 13 per cent this year was possible. "Exports in June rose by an extraordinary 37 per cent year-on-year, taking the total rise in the first half to 26 per cent."

He added: "We have pencilled in an 18 per cent rise in export volumes against a 15.5 per cent rise in imports . . . GNP is likely to grow by some 11 per cent in volume terms."

Seasonally adjusted preliminary data indicated exports in June were worth £5.72 billion while imports were worth £3.62 billion, the CSO said.

Sales to the US in the January-May period rose by 51 per cent to £4.4 billion compared with the same period last year. The value of sales to Britain was £4.48 billion, 38 per cent stronger than the first five months last year.

The figures reflected strong export sales of organic chemicals and computers, and a significant increase in road vehicle imports, said the CSO.

Mr John Beggs, chief economist at AIB, said the numbers were "exceptionally" strong. "The Irish economy is clearly capable of generating this sort of export performance, reflecting how competitive we are and the continued inflow from foreign direct investment. I've no doubt that the weakness of the euro has helped us as well," he said. "We may continue at this sort of pace for several months yet."

Davy Stockbrokers chief economist, Mr Jim O'Leary, said the figures showed that the economy was growing at least as vigorously as expected earlier in the year. While predicting GDP growth well in excess of 10 per cent for the year, Mr O'Leary said it was too early for the Department of Finance to revise its figures.