11 per cent export drop narrows July trade surplus
CSO says exports still 3 per cent ahead so far this year
Official figures show that Ireland's trade surplus narrowed in July as exports dropped by more than imports.
The Central Statistics Office said seasonally adjusted exports fell by 11 per centfrom June to just over €8.9 billion. Imports also dropped by 11 per cent to just under €5.4 billion. This led to a 13 per cent fall in the trade surplus to just over €3.5 billion.
Unadjusted figures for July showed that the value of goods exports was €9,12 billion, a 3 decrease compared with July last year, but exports for the first seven months of 2016 are running 3 per cent ahead of the same period last year at €65.86 billion.
On the imports side,July's figure was down 13 per cent from a year earlier at just under €5 billion, with petrol imports down 35 per cent. Imports for the first seven months of 2016 are 4 per cent lower than the same period last year at almost €38.2 billion.
The EU accounted for 49 per cent of total goods exports in July, while the US was the main non-EU market with 24 per cent.
Related Stories
How exporters can manage currency successfully in a volatile environment
