NEW FIGURES SHOW A STRONG increase in Irish exports, aided by a weak euro.
Irish goods and services experted between July and September of 2010 came to €40.4bn, a 9.3% increase on the same period of last year, according to the Irish Exporters’ Association.
RTÉ reports that the IEA’s CEO John Whelan said goods exported were up 12.8% to €22.9bn, while services were up 4.9% for the quarter.
Whelan said Irish exports were boosted by a favourable euro rate. Manufactured goods exported to the US were worth 32% more in the third quarter of this year, the Irish Times reports.
Exports to the UK rose at an annual rate of 4%, but Whelan warns that a weaker sterling this month could reverse the gains made in Q3.
Medical devices exports rose by 38%, while chemicals and pharmaceuticals rose 22%, according to RTÉ.
However, the IEA said that exports to Brazil, Russia, India and China rose at an annual rate of 2% in Q3. As these countries have been growing rapidly in 2009 and 2010, the growth of Irish exports to them “must be seen as below potential and indicate a loss of market share”, it said.
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