Ireland Trade Surplus Widens in December From a Year Earlier


Preliminary estimates for December 2012 show seasonally adjusted exports of €6,840 million, down 15 percent on November 2012 and seasonally adjusted imports of €3,800 million (-1 percent) according to the Central Statistics Office.

In 2012, Ireland posted the highest trade exports since 2002. The value of exports for 2012 was €92,009 million, up 1 percent from 2011. Imports were up by 1.5 percent to €49,024 million resulting in a trade surplus of €42,985 million.

Exports of medical and pharmaceutical products decreased by €1,946 million (-7 percent) to €24,447 million. The value of petroleum exports increased by €441 million (35 percent) to €1,692 million. In 2012, the United States (20 percent), Belgium (15 percent), Great Britain (15 percent) and Germany (8 percent) were Ireland’s main export markets. Goods to Switzerland increased by €1,384 million (38 percent), to Germany by €1,241 million (20 percent) and to Great Britain by €949 million (7 percent). Exports to the United States decreased from €21,601 million to €18,160 million (-16 percent).
 
Imports of transport equipment (including aircraft) increased by 6 percent to €2,491 million. Imports of medical and pharmaceutical products decreased by 6 percent to €4,13 million. In 2012, Great Britain (31 percent), the United States (13 percent), Germany (7 percent) and China (6 percent) accounted for 57 percent of total imports. Imports from the United States increased by 8 percent to €6,397 million with decreases from Germany of 8 percent to €3,414 million and from Norway of 19 percent to €938 million.

CSO | Nuno Fontes | nuno@tradingeconomics.com
2/13/2013 11:17:27 AM