The visible trade surplus looks set to increase by more than 30 per cent last year, according to the latest figures from the Central Statistics Office.

The current account surplus rose to £758 million in the first nine months of the year, compared with a surplus of £496 million in the first six months and £868 million over the same time last year. The fall was due to a rise in the invisible trade deficit.

In the first nine months of 1998 there was a merchandise (visible) trade surplus of £11.39 billion and an "invisibles" deficit of £10.21 billion, mainly from an increasing deficit on services, including royalties.

Mr Alan McQuaid, economist at Bloxham Stockbrokers, said it was now clear that the visible trade surplus would rise by 30 per cent in 1998, pointing to growth of about 9.5 per cent in Gross National Product.