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July trade surplus moves 17% higher in July - CSO

Exports rose by 7% in July compared to the same time last year, new CSO figures show
Exports rose by 7% in July compared to the same time last year, new CSO figures show

The country's trade surplus grew in July, as the value of exports rose at a faster pace than imports, new figures from the Central Statistics Office show.

The CSO said that almost €16 billion worth of goods was exported in July, which marked a 7%, or more than €1 billion increase year-on-year.

The value of imports rose above €11 billion - a 3% or €336m increase, which left a trade surplus of more than €4.9 billion - up 17% year-on-year.

Today's CSO figures show that the EU accounted for €6.737 billion (42%) of total goods exports in July, of which €1.627 billion went to Belgium, €1.594 billion went to Germany and €1.379 billion went to the Netherlands.

The US was the main non-EU destination accounting for €4.051 billion, or 25% of total exports in July, the CSO added.

Meanwhile, today's figures also reveal that exports to Great Britain grew by 63% to €1.9 billion in July compared to the same time last year.

But imports from Great Britain fell by 10% to €1.7 billion on an annual basis with the largest decrease seen in the imports of Mineral Fuels, Lubricants & Related Materials which fell by 25%.