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Trade surplus for September down 41% on August – CSO

The drop in Ireland’s trade surplus is the first since March of this year.

IRELAND’S SEASONALLY ADJUSTED trade surplus figures were down 41 per cent for September when compared to the previous month, according to figures released by the Central Statistics Office (CSO).

The seasonally adjusted surplus figure of €2.9 billion for September was nearly two billion less than that for August, which had posted a surplus of €4,884 million.

While September had seen imports increase by five per cent, the main cause of the overall drop in surplus was the fact that exports fell by 19 per cent, down €1,764 million compared to August.

This drop was largely accounted for by the fall in exports of “Chemical and related products”, which fell by over €1 billion, from €5,206 million in August to €4,180 million in September.

Over €150 million more in “Other transport equipment” – which includes aircraft – was imported into Ireland in September than in August (€245 million versus €76 million).

When the figures for September 2012 are compared to September 2011, exports were down  €512 million, or six per cent.

Imports over the same 12-month period were up €316 million, or eight per cent.

Fifty-six per cent of Ireland’s exports in September were to other countries within the EU, with a further 21 per cent going to the US.

The majority of Ireland’s imports also came from the EU, at 57 per cent.

Prior to September’s results, Ireland’s trade surplus had increased month-on-month since March of this year, as the graph below shows.

Read: Trade surplus increases by €1bn – CSO >

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