Exports fall, imports rise in June

Irish exports continued their downward trend in June, falling by 11 per cent compared to the previous month.

Irish exports continued their downward trend in June, falling by 11 per cent compared to the previous month.

Preliminary figures  from the Central Statistics Office (CSO) showed exports decreased to €6.6 billion, following a 2 per cent decline in May.

However, imports are on the rise, growing by 5 per cent to €4.6 billion in June. This compares to a a drop of 8 per cent in May.

The new figures bring the seasonally adjusted trade surplus just under €2 billion for June, falling from May's figure of €3 billion.

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Unadjusted figures for June showed that exports decreased by €421 million, or 5 per cent to €7.2 billion, while May increased by €744 million (12 per cent) to €7.1 billion.

Year-on-year, imports for June rose by 7 per cent to €4.49 billion, a similar increase to May (8 per cent).

In the period from January to May 2005, however, Irish exports rose by 2 per cent. Exports of organic chemical grew by 13 per cent to €7.6 billon, while medical and pharmaceutical products increased from €5.9 billion to €6.1 billion, a 2 per cent rise on the same period in 2004. However, telecommunications and sound equipment plunged 28 per cent from €625 million to €452 million, and computer equipment exports decreased by 4 per cent to €5.1 billion.

Ireland is importing more transport equipment; road vehicles saw a 20 per cent increase over the five months, rising to €1.6 billion, while other equipment, including aviation, soared 71 per cent to €1.1 billion

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist