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Irish exporting sector continues to boom

The trade surplus – the amount by which Ireland’s exports exceed its imports – grew in September.

Image: photohome_uk via Flickr

IRELAND’S TRADE SURPLUS continued to grow in September, new statistics showed, as the export sector continued to get back on its feet.

New figures from the Central Statistics Office showed that the trade surplus – the amount by which Irish exports exceeded imports – reached €3.91 billion for the month of September, up from €3.8 billion in August.

The 2.9% increase in the surplus came after exports grew by 2% over the month – reaching €7.8bn – while imports had also grown, though by only 1% to €3.9 billion.

The main territories targeted by Irish exports in the first two-thirds of the year were the United States (which accounted for €13.3 billion in trade), the UK (€8.7bn) and Belgium (€8.66bn).

Irish exports to the other members of the European Union totalled €33.9bn between January and August, with €23.2bn of that within the Eurozone. The total value of exports in the firs eight months was €58.207bn, down only marginally on the same period in 2009.

Imports, over the same eight months, dropped by 2% to a total of €29.77bn.

The figures have been welcomed by the government, with trade minister Billy Kelleher saying the figures showed a “strong growth trend” which indicated “renewed activity in the economy as businesses buy raw materials and consumers spend more”.

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About the author:

Gavan Reilly

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