The value of trade between the Republic and countries outside the EU rose slightly in July, according to new figures from the Central Statistics Office.

On a seasonally adjusted basis, imports from non-EU countries grew in value by 3 per cent to reach €1.5 billion, while exports jumped by 11 per cent to €2.8 billion.

The increases follow a sharp fall in both numbers in June, when imports fell by 13 per cent to reach a level not seen since last September.

Economists say that the numbers provide evidence of the Republic's "bumpy" economic performance, as well as providing real evidence of falling levels of foreign direct investment.

On a seven-month view, unadjusted numbers show that the value of imports from non-EU countries has fallen by 10 per cent since the start of the year to reach €11 billion.

Exports have held up better over this period, declining by just 1 per cent to €20.3 billion, buoyed largely by the activities of a small number of large pharmaceutical firms.

Over the period between January and July, exports of medical and pharmaceutical products increased in value by 57 per cent to €2.1 billion.

In the same period, the value of exports of electrical machinery fell by 33 per cent to €1.9 billion, while exports of computers fell by 13 per cent to €3.3 billion.

Computers also contributed largely to the reduction in import values, with a decline of 21 per cent to €2.5 billion. Imports of telecommunications and sound equipment fell by 44 per cent to reach €0.5 billion.

The most substantial increase in import values came in organic chemicals, where a rise of 97 per cent was recorded.

The Republic's largest non-EU trading partner remains the US, which has imported €9.5 billion in Irish goods since the start of the year.