Exports up by 6% in first quarter

Exports increased 6 per cent in the first quarter of the year, but slipped back in April, according to the latest external trade…

Exports increased 6 per cent in the first quarter of the year, but slipped back in April, according to the latest external trade figures from the Central Statistics Office.

Minister for Enterprise, Trade and Employment Micheál Martin welcomed the figures yesterday.

He acknowledged that seasonally-adjusted exports had decreased 2 per cent in April compared to March, but said he was pleased with an overall trade surplus of almost €3 billion in April as it reflected a continued confidence in the economy.

In the first three months of the year, exports rose to €22.7 billion, up from €21.4 billion in the same period last year.

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Exports of organic chemicals jumped 38 per cent, while beverage exports were also among the highlights, rising 29 per cent.

The Minister said he was particularly pleased to note a strong export performance to important markets in Asia.

Exports to China and Hong Kong were up 37 per cent, while exports to the Philippines soared by 88 per cent.

Mr Martin said the performance in the region reflected the Government's efforts to promote and grow its markets under its Asia strategy.

Exports to Britain rose 7 per cent to €3.5 billion, while there was also an increase in trading with Belgium and Switzerland.

Goods shipped to Malaysia, Italy and France all fell.

Imports in the first quarter of 2007 also increased 6 per cent, rising from €15.5 billion to €16.5 billion. Imports of transport equipment such as aviation equipment jumped 159 per cent to €1.1 billion, while there were strong increases in imports of iron and steel, gas and telecommunications.

Laura Slattery

Laura Slattery

Laura Slattery is an Irish Times journalist writing about media, advertising and other business topics