| Source: CSO |
The CSO reported today thatSeasonally adjusted imports increased by 10% to a high of €5,581m and exports decreased by 3% in November relative to October 2007. Relative to September 2007, imports increased by 2% in October, while exports increased by 8%.
On an unadjusted basis, the value of imports reached a new high of €5,877m in November 2007, up 6% on November 2006, while the value of exports was €7,825m, up 2%. The value of imports in October 2007 was €5,509m, up 1% on October 2006, while the value of exports was €7,699m, up 1%.
The large increase for November 2007 imports is due mainly to Transport equipment and the increased price of fuels.
The January-October figures for 2007 when compared with those of 2006 show that:Exports increased from €71,974m to €74,791m (+4%) –Organic chemicals increased from €14,245m to €16,980m (+19%), General industrial machinery from €1,006m to €1,230m (+22%) and Eggs and dairy products from €982m to €1,223m (+25%).
Computer equipment decreased from €11,267m to €10,391m (-8%), Professional, scientific and controlling apparatus from €1,945m to €1,794m (-8%) and Electrical machinery, apparatus and appliances from €4,253m to €4,114m (-3%).
Goods to China/Hong Kong increased from €1,210m to €1,613m (+33%), to the Philippines from €305m to €649m (+113%), to Great Britain from €11,417m to €12,306m (+8%), to Belgium from €10,166m to €10,734m (+6%) and to Switzerland from €2,088m to €2,707m (+30%).
As US companies dominate the Irish merchandise export sector, big swings from one period to another can reflect decisions made overseas on where exports from Ireland should be transported to. Ministers are prone to take credit for say a large jump in exports to China or Switzerland but id does not reflect the performance of Irish companies.
The fall in computer equipment exports reflects the opening of the new Dell plant in Poland.
Irish Trade Statistics: Policymakers opt for Spin and Delusion rather than confront challenging facts
Imports increased from €49,928m to €51,122m (+2%) – Other transport equipment (including aviation equipment) increased from €1,059m to €2,032m (+92%), Medical and pharmaceutical products from €1,848m to €2,044m (+11%), Iron and steel from €746m to €915m (+23%) and Road vehicles from €3,196m to €3,431m (+7%).
Electrical machinery, apparatus and appliances decreased from €3,238m to €2,733m (-16%), Computer equipment from €8,518m to €7,636m (-10%) and Organic chemicals from €1,769m to €1,642m (-7%).
Goods from France increased from €1,812m to €2,114m (+17%), China/Hong Kong from €3,858m to €4,248m (+10%), Germany from €4,038m to €4,322m (+7%) and Great Britain from €14,712m to €15,260m (+4%).
Goods from Singapore decreased from €1,097m to €684m (-38%), Norway from €1,580m to €1,194m (-24%), Taiwan from €823m to €648m (-21%) and Japan from €1,464m to €1,332m (-9%).