The value of exports was €92 billion in 2012, a 1% increase on figures from the previous year according to the Central Statistics Office.

Imports were up 1.5% to €49 billion, resulting in a trade surplus of €42.98 billion – up 0.2% on 2011.

The United States accounted for 20% of Irish exports during 2012, while Belgium and Britain both accounted for 15%.

8% of exports last year were to Germany.

Meanwhile, Britain was the source of 31% of Ireland’s imports during 2012. The US accounted for 13%, 7% of imports came from Germany while 6% came from China.

While the overall value of exports increased, medical and pharmaceutical exports fell by €1.9bn, or 7%, during 2012. The value of similar imports also fell, decreasing by 6% to €4.1bn.

Most other export categories saw a rise in value, including a €441m (35%) increase in petroleum exports and a €578m rise in miscellaneous manufactured articles.