Central Statistics Office figures show that the value of Irish exports fell by nearly 20% in the first six months of this year compared with the same period last year.
Exports were worth just under €40 billion, compared with €49.6 billion in the first half of 2002. Imports were 23% lower at €23.3 billion.
The CSO says a significant fall in the pattern of trade in electrical machinery and parts with Britain has had a large influence on these yearly comparisons. The ending of a VAT fraud contributed to this fall.
Exports to Britain were 47% lower in the period, while imports dropped by 41%. There were falls of around 20% in the chemical and computer equipment sectors, while exports of telecoms equipment plunged by 60%.
Seasonally adjusted figures for the month of June, exports were €6,511m, 2% lower than in May, while imports rose by 4% to €3,809.
Preliminary July figures show exports worth €6,670 and imports worth €3,770m.
David Croughan, IBEC chief economist, said that both sets of statistics pointed to a weak performance in July. 'While exports rose in value by 2.4% in the month on a seasonally adjusted basis, they were still below the level of exports at the end of last year,' he said.
