Exports rebounded in September after declining in July and August, according to new preliminary figures from the Central Statistics Office (CSO).
The latest data shows that seasonally adjusted exports rose by 11 per cent during September to €7.2 billion, while imports fell by 2 per cent to €3.4 billion.
On an unadjusted basis, the value of exports was unchanged from a year earlier, while the value of imports was down 26 per cent. The trade surplus was up 43 per cent to €4 billion.
For the first eight months of the year the value of exports stood at €57 billion, unchanged for the same period a year earlier. Imports decreased 23 per cent from €39 million to €30 million.
Export of goods to Germany fell by 20 per cent. In addition, there was a 15 per cent fall in exports to Britain. At the same time there was a 13 per cent rise in exports to the US.
According to CSO there were significant declines in exports of goods from Ireland in computer equipment, electrical machinery, metalliferous ores and industrial machinery.
Alan McQuaid, economist at Bloxham stockbrokers said the trend in Irish exports in the year to date has been better than expected.
"Although the volume of merchandise exports could be down 6 per cent or more for the year as whole, it would still be a very good performance all things considered. The bottom line is that exports will be the main driver of the Irish economic recovery when it comes, and we wouldn’t be surprised to see a positive volume increase in 2010 as global demand rises," he said.
The latest figures show imports of road vehicles during the first eight months of the year fell by 78 per cent and there were also significant declines in imports of computer equipment and petroleum products.
Goods imported from Britain fell by 32 per cent from January to August. Imports from Germany and China were down by 43 per cent and 30 per cent respectively.
The Minister for Trade and Commerce Billy Kelleher welcomed the latest statistics.
"Irish exports continue to be a key factor in contributing to our future economic recovery and the work of my department and its industrial development agencies will continue to focus on the importance of our exports as a driver to develop our economy," he said.
