Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Irish exports and imports rose annually in July, as the country exported far more to Great Britain but imported less from it, the country’s Central Statistical Office reported Friday.
Exports in July rose 7.0% to €15.96 billion from €14.91 billion a year prior. Notably, exports to Great Britain jumped 63% to €1.87 billion from €1.15 billion, while exports to Northern Ireland declined 9.6% to €386 million from €423 million.
Exports to the EU rose 7.7% to €6.74 billion from €6.25 billion. Exports to the US rose 8.1% to €4.05 billion from €3.75 billion. However, exports to the rest of the world declined by 13% to €2.91 billion from €3.34 billion.
Exports of medical & pharmaceutical products, which represented 44% of total exports, jumped by 22% annually to €7.07 billion in July.
Imports in July increased by 3.1% to €11.04 billion from €10.70 billion a year ago. Imports from Great Britain declined 9.7% to €1.68 billion from €1.86 billion, while imports from Northern Ireland fell by 7.2% to €399 million from €430 million. Imports from the EU surged 32% to €4.13 billion from €3.13 billion. Imports from the US were 1.9% higher at €1.33 billion compared to €1.30 billion, while imports from the rest of the world contracted by 12% to €3.50 billion from €3.98 billion.
Imports of organic chemicals surged by 49% annually in July to €2.62 billion.
Ireland recorded a trade surplus of €4.58 billion in July, compared to €5.53 billion in June.
Meanwhile, services producer prices in the second quarter of 2023 were 1.7% higher year-on-year, buoyed by a 16% rise in air transport prices and 11% in employment & human resource activities prices. Notably, sea & coastal transport prices were 20% lower annually.
Compared to the first quarter of 2023, service producer prices were 0.1% higher, slowing from a quarterly increase of 1.1% in the first quarter.
Quarter-on-quarter, industrial & building cleaning prices were up 3.1% in the second quarter of 2023, air transport prices were 1.8% higher, but sea & coastal transport prices were 3.0% lower.
Copyright 2023 Alliance News Ltd. All Rights Reserved.