IRELAND’S TRADE SURPLUS surged by 44 per cent following a sharp fall in imports in May, according to the latest figures released by the Central Statistics Office.

The value of seasonally adjusted exports for May came in at just over €7.5 billion, matching April’s figure, however imports fell by 24 per cent month on month – creating a surplus of €3.78 billion for May.

On the adjusted basis, the value of exports in May was slightly down (-0.6 per cent) on the same period last year.

The value of exports increased to €31.16 billion in the first four months of 2011, marking growth of 8 per cent on the same period last year. This growth was led by the export of medical and pharmaceutical products (up 17 per cent) and organic chemicals (up 14 per cent).

Over this period, 52 per cent of exports from Ireland went to the United States.

Meanwhile, more than half of Ireland’s imports for the first four months of 2011 came from Britain (an increase of 19 per cent), the United States (an increase of 7 per cent) and Germany.

Read the CSO figures >