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Value of exports from Ireland rose 10% in February

There was a 24% jump in exports to Great Britain in February
There was a 24% jump in exports to Great Britain in February

The value of goods exported from the country rose by 10% in February compared to the previous month according to new data from the Central Statistics Office.

However, imports into the country fell by 1.3% over the same period.

In total goods worth €17.3 billion were exported during February, up €1.6 billion on a month earlier.

While the value of imported goods came in at €11.9 billion, down from just over €12 billion in January.

When the first two months of this year are compared with the same period last year, exports of goods were more or less unchanged at around €32 billion.

This is despite a 24% jump in exports to Great Britain in February of this year compared to a year earlier.

"It is positive that the trading figures with Great Britain are robust despite interest rate rises and the noticeable increase in the cost of living," said Janette Maxwell, Director in Tax at Grant Thornton Ireland.

The value of total imports over the first two months of the year increased by 14% to €21 billion.

Imports from Great Britain rose by 27% to €1.9 billion in February compared with the same month in 2022.

The largest increases were in chemicals and related products and mineral fuels, lubricants and related products.

44% of total goods exports, worth €7.3 billion, went to the EU with €2.2 billion of that heading to Germany, €1.6 billion to Belgium and €1.2 billion to the Netherlands.

The USA was the main non-EU destination for exports, accounting for a quarter or €4 billion of the total.