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Seasonally adjusted exports fall 6pc

Wednesday, March 19 11:37:58

Preliminary figures for January 2014 indicate a decrease in seasonally adjusted exports of E479 million (-6pc) to E7,217 million from December 2013, according to the CSO.

Seasonally adjusted imports decreased by E166 million (-4pc) to E4,119 million resulting in a 9pc decrease in the seasonally adjusted trade surplus to E3,098 million. Comparing January 2014 with January 2013, the value of exports increased by E302 million (+4pc) to E7,031 million.

The main drivers were increases of E223 million (+6pc) in the exports of Chemicals and related products and E59 million (+9pc) in the exports of Food and live animals.

On an overall basis the EU accounted for E3,806 million (54pc) of total exports in January 2014. The USA was the main non-EU destination accounting for 23pc (E1,635m) of total exports in January 2014.

Comparing January 2014 with January 2013, the value of imports rose by E86 million (+2pc) to E4,528 million. Imports of Petroleum products and related materials increased by E137 million (+42pc) and Chemicals and related products increased by E62 million (+7pc). The EU accounted for 64pc of the value of imports in January 2014, with 33pc coming from Great Britain. The USA (9pc) and China (6pc) were the main non-EU sources of imports.