Exports recover in September - CSO
Thursday, 26 November 2009 11:31Preliminary figures from the Central Statistics Office show that exports picked up in September, having declined in the previous two months.
The seasonally adjusted value of exports in September was €7.2 billion, up 11% from August. Imports fell by 2% to just under €3.5 billion.
The CSO said a comparison with September last year shows a broad drop in trade with the UK, but an increase in exports to the US. Imports have been showing sharp falls due to the impact of the recession on business and consumer spending.
Detailed figures for the first eight months of the year show exports little changed from the same period last year at just under €57 billion, with the impact of a weaker sterling illustrated by a 15% drop in exports to Britain and a 22% fall for Northern Ireland.
There big drops in exports of computer equipment and electrical machinery, but medical, pharmaceutical and chemical exports were higher.
Imports for the first eight months are running 23% below the same period last year at €39.5 billion, with imports of road vehicles slumping 78%. Imports from Britain were 32% lower, while Chinese imports were down 30%, though imports from the US rose 20% from a year earlier.
Separate CSO figures showed that factory gate prices - or prices of goods before they reach the consumer - fell 0.6% in October from September, bringing the annual drop to 5.2%.
A breakdown of wholesale prices show that prices of building materials rose 0.2% in the month, but are down 4.8% over 12 months. Prices of energy products moved up 0.15 in October, but fell 12.3% from a year earlier.
