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Irish exports increased by 6% in value in Q1 2007 compared with same 2006 period but fell 2% in April
By Finfacts Team
Jun 19, 2007, 14:20
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| Source: CSO |
The CSO said today that seasonally adjusted exports decreased by 2% in April relative to March 2007 and imports decreased by 16%. Relative to February
2007, exports in March increased by 2% while imports showed little change.
On an unadjusted basis, the value of exports in April 2007 was 7,462m, up 928m (+14%) on April 2006, while the value of imports was 4,830m, up 195m (+4%). The value of exports in March 2007 was 8,393m, up 353m (+4%) on March 2006, while the value of imports was 5,612m up 22m.
The January-March figures for 2007 when compared with those of 2006 show that:
Exports increased from 21,480m to 22,745m (+6%)
- Organic chemicals increased from 3,930m to 5,408m (+38%), Beverages from 220m to 284m (+29%), General industrial machinery from 291m to 351m (+21%) and Metalliferous ores from 215m to 279m (+30%).
- Medical and pharmaceutical products decreased from 4,065m to 3,719m (-9%), Professional, scientific & controlling apparatus from 620m to 546m (-12%) and Computer equipment from 3,443m to 3,336m (-3%).
- Goods to Belgium increased from 3,302m to 3,709m (+12%), to Switzerland from 488m to 862m (+77%), to China and Hong Kong from 346m to 475m (+37%), to the Philippines from 120m to 225m (+88%) and to Great Britain from 3,304m to 3,526m (+7%).
- Goods to Malaysia decreased from 178m to 123m (-31%), to Italy from 940m to 799m (-15%) and to France from 1,377m to 1,284m (-7%).
Imports increased from 15,496m to 16,491m (+6%)
- Other transport equipment (including aviation equipment) increased from 431m to 1,116m (+159%), Iron & steel from 213m to 280m (+31%), Telecommunications & sound equipment from 452m to 514 m (+14%) and Gas, natural & manufactured from 198m to 251m (+27%).
- Petroleum and related materials decreased from 996m to 830m (-17%) and Electrical machinery from 1,046m to 899m (-14%).
- Goods from the United States increased from 1,940m to 2,476m (+28%), Germany from 1,336m to 1,568m (+17%), China and Hong Kong from 1,108m to 1,234m (+11%) and Great Britain from 4,413m to 4,657m (+6%).
- Goods from Norway decreased from 506m to 386m (-24%) and Japan from 557m to 463m (-17%).
Minister for Enterprise, Trade and Employment, Michιal Martin, today expressed satisfaction with the latest trade statistics.
Martin said that was particularly pleased to note the strong export performance to a number of our markets in the first quarter of 2007 compared to the same period last year. Exports to China and Hong Kong were up by 37% and to the Philippines by 88%.
The Minister said "this strong performance in this region reflects our ongoing efforts to promote and grow our markets through our Asia Strategy."
Finfacts Comment: The Minister did not refer to the fall in exports to Malaysia by 31%.
The reality is that the "Asia Strategy" is dependent on export of goods and services by companies such as Intel and Microsoft.
Last year, Junior Minister Michael Ahern was claiming credit for an increase in exports to Malaysia.
The decisions made on exports by multinationals, are generally made outside Ireland.
To put it simply, the "Asia Strategy" is primarily focused on public relations.
See: Irish Economy: No crash in sight nor credible strategy to maintain export-led growth in long-term; Overseas commercial property to remain investment of choice
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