Exports Show Decrease In May

Seasonally adjusted exports decreased by 2% in May as compared to April 2007 and imports increased by 3%. Compared to March 2007, exports in April decreased by 2% while imports decreased by 4%.

The unadjusted value of exports in May 2007 was €7,494m, down €265m on May 2006, while the value of imports was €5,066m, up €98m.

The value of exports in April 2007 was €7,516m, up €1,001m on April 2006, while the value of imports was €4,785m, up €142m. May exports were down 11% and imports 10% from a high in March.

The January-April figures for 2007 when compared with those of 2006 show that: Exports increased from €27,995m to €30,391m (+9%).

Exports were bolstered by increases in the outward trade in organic chemicals, beverages and general industrial machinery.

Imports of transportation equipment, iron and steel and telecommunications equipment helped fuel the increasing costs.

The Minister for Trade and Commerce, Mr. John McGuinness, T.D., expressed satisfaction with the latest figures, saying that the overall trend was upward as exports between January and April 2007, increased by 9% compared to the same period the previous year.

"These figures represent a very good performance by Irish exporters in a difficult trading environment," Minister McGuinness said.

The Minister was also pleased to note that the export performance to Asia was particularly heartening, with exports to China and Hong Kong up by 38% and to the Philippines surging ahead with a 106% increase.

"Trade between Ireland and China is growing," he said, "and there is significant growth also in other key emerging markets in Asia.

"This builds on our work in implementing our  'Asia Strategy' to improve trade and related links with the major Asian economies" he added.

"Another strong performer was Great Britain one of our oldest and most important markets, which was up 9% on the same time for the previous year", the Minister concluded.