Irish exports continued their upward trend in August and are now rising at the fastest rate in more than two years, according to the latest data from the Central Statistics Office (CSO).
On a seasonally adjusted basis, there was a 6 per cent rise in exports to €8.08 billion in August relative to July. Imports also increased by 6 per cent to €5.21 billion in the same period.
This left the Republic with a trade surplus of €2.87 billion for the month, an increase of more than 5 per cent on the previous month.
So far this year overall exports are up 3 per cent year-on-year, despite blips in April and June.
Figures for the January-July period showed a 4 per cent rise in exports of organic chemicals to €10.2 billion compared to the same period in 2005.
Medical and pharmaceutical products rose by 4 per cent to €9.13 billion, while metalliferous ores rose by 75 per cent to €553 million.
Imports rose by 6 per cent in the January-July period, with petrol and related products showing the biggest increase at 24 per cent.
"Despite the strong performance of imports, there are still some positives to be taken from the export data," said Dermot O'Leary, chief economist with Goodbody Stockbrokers.
Exports of food and live animals for the three months from May to July are ahead by 10 per cent year on year, he said.
"This sector is Ireland's biggest indigenous export industry, and the recent trends reveal that it is still making a contribution to economic growth," he said.
"Exports of chemicals and related products have performed impressively in recent months and are the primary reason for the improvement in exports overall."
Exports to the United States rose by 7 per cent to €10.2 billion, to Belgium by 9 per cent to €8.1 billion and to Germany by 5 per cent to €3.9 billion.
