Exports fell slightly in July, according to the latest figures from the Central Statistics Office. Overall trade was static as imports also fell slightly. The adjusted surplus was £2.67 billion (€3.39 billion) in the month, the same as June.

Initial figures for August show the surplus fell to £2.34 billion, with exports of £6 billion and imports of £3.67 billion. From January to July exports rose 19 per cent, with figures for medical and pharmaceutical products particularly strong, at £3.98 billion - up 70 per cent. Electrical machinery was up 56 per cent and computer equipment up 21 per cent. Exports to the US continued to grow and were up 30 per cent, while exports to Germany rose 40 per cent.

Imports have risen more slowly, up 8 per cent in the first seven months of the year. Imports from Britain climbed 15 per cent to £8 billion and those from the US by 7 per cent.