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Statement by the Tánaiste on latest CSO trade figures

Trade, Tánaiste Eamon Gilmore, Press Releases, Ireland, 2014

 

The Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore, TD, noted that merchandise exports for the first quarter of 2014 increased by 1% over the same period in 2013. According to Central Statistics Office report released today, the total for seasonally-adjusted exports in this period was €21.4 billion, up from €21.2 billion for the same period in 2013.

However, preliminary merchandise trade figures for March 2014 show that seasonally adjusted exports decreased in March 2014 from the previous month.

Commenting on the figures, the Tánaiste said:

“Following a strong start to the year, today’s figures show that merchandise exports declined by 4% in March from last month. The main drivers of the decline were in exports of organic chemicals and medical and pharmaceutical products, which seems to reflect the lingering impact of the patent cliff.

“While not out of line with expectations, these figures remind us of the importance of exports as a major driver of growth in our economy and as Minister for Foreign Affairs and Trade, I will continue to work to ensure that the best possible supports are available to exporting companies as they look to grow their business and expand into new markets.”

On an overall basis the EU accounted for €4,247 million (56%) of total exports in March 2014. The USA was the main non-EU destination accounting for 24% (€1,847 million) of total exports in March 2014.

 

ENDS

Press Office

14 May 2014

 

Note to editors

CSO PR on Goods Exports and Imports March 2014