Ireland Balance of Trade

Ireland recorded a trade surplus of 3210000 EUR Thousand in February of 2014. Balance of Trade in Ireland is reported by the Central Statistics Office Ireland. Balance of Trade in Ireland averaged 1100762.63 EUR Thousand from 1970 until 2014, reaching an all time high of 4973000 EUR Thousand in August of 2012 and a record low of -294081 EUR Thousand in July of 1981. Ireland posts regular trade surpluses since the late 1980’s. The country is one of the biggest exporters of pharmaceuticals in the world (28 percent of Ireland’s total exports). Other major exports are organic chemicals, data processing equipment and software. Main imports are: electrical machinery and components (16 percent of total imports), fuel (15 percent), motor vehicles (10 percent) and food (10 percent). European Union is by far its largest trading partner, accounting for about 60 percent of total trade. Within the EU, main partners are United Kingdom (16 percent of exports and 34 percent of imports), Germany and France. Other major partners are United States (23 percent of exports and 12 percent of imports) and China. This page provides - Ireland Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3210000.00 3083000.00 4973000.00 -294081.00 3055426.63 | 2014/02 1970 - 2014 EUR Thousand Monthly
SA

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Ireland Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-16 11:00 AM Ireland
Balance of Trade
Nov 2013 € 2.54B € 3.0B (R) € 3.2B
2014-02-14 11:00 AM Ireland
Balance of Trade
Dec 2013 € 3.44B € 2.54B € 3.2B
2014-03-19 11:00 AM Ireland
Balance of Trade
Jan 2014 € 3.09B € 3.44B € 3B
2014-04-14 11:00 AM Ireland
Balance of Trade
Feb 2014 € 3.21B € 3.08B (R) € 3.1B
2014-05-22 11:00 AM Ireland
Balance of Trade
Mar 2014 € 3.21B € 3B
2014-06-20 11:00 AM Ireland
Balance of Trade
Apr 2014 € 3B
[+]

Trade Last Previous Highest Lowest Forecast Unit
Current Account 3330.00 2013-11-15 3425.00 3425.00 -3997.00 3371.93 2014-03-31 EUR Million [+]
Balance of Trade 3210000.00 2014-02-15 3083000.00 4973000.00 -294081.00 3055426.63 2014-02-28 EUR Thousand [+]
Exports 7232000.00 2014-02-15 7175000.00 9188000.00 45054.00 7300870.04 2014-02-28 EUR Thousand [+]
Imports 4022000.00 2014-02-15 4091100.00 5696500.00 59842.00 4279836.28 2014-02-28 EUR Thousand [+]
Capital Flows -3063.00 2013-11-15 -3357.00 11147.00 -7696.00 -3052.61 2014-03-31 EUR Million [+]
External Debt 1604423.00 2013-12-31 1618068.00 1849903.00 521792.00 1583995.32 2014-03-31 EUR Million [+]
Terms of Trade 0.00 2014-01-15 78.20 132.50 0.00 22.09 2014-02-28 Index Points [+]
Tourist Arrivals 2909.40 2013-11-15 4293.20 5001.00 440.00 2933.07 2013-12-31 Thousand [+]
Current Account to GDP 2.10 2012-12-31 1.10 4.00 -13.40 2.77 2013-12-31 Percent [+]
[+]


Irish Trade Surplus Widens in February

Preliminary figures for February of 2014 indicate an increase in seasonally adjusted exports of € 57 million (+1 percent) to €7,232 million from January 2014. Coupled with a decrease in seasonally adjusted imports of € 69 million (-2 percent) to € 4,022 million, the seasonally adjusted trade surplus increased by € 127 million (+4 percent) to € 3,210 million.

Comparing February of 2014 with February of 2013, the value of exports increased by € 168 million (+3 percent) to € 6,787 million. The main drivers were increases of € 92 million (+15 percent) in the exports of food and live animals, € 67 million (+14 percent) in essential oils and € 48 million (+4 percent) in the exports of organic chemicals.

On an overall basis the EU accounted for € 3,758 million (55 percent) of total exports in February of 2014. The USA was the main non-EU destination accounting for 22 percent (€ 1,487m) of total exports.

Year-on-year, the value of imports rose by € 109 million (+3 percent) to € 4,022 million. Imports of machinery specialized for particular industries increased by € 105 million (+131 percent).

The EU accounted for 65 percent of the value of imports, with 31 percent coming from Great Britain. The USA (10 percent) and China (5 percent) were the main non-EU sources of imports.

CSO | Joana Taborda | joana.taborda@tradingeconomics.com
4/14/2014 11:15:17 AM

RECENT RELEASES

Ireland Posts € 3 Billion Trade Surplus in January
Irish trade balance widened 10.13 percent over a year earlier to € 3.09 billion in the first month of 2014. Compared with December of 2013, the trade surplus narrowed 9.1 percent. Published on 2014-03-19

Irish Trade Surplus Narrows 12.5% in 2013
In 2013, Irish trade surplus decreased to € 37.25 billion, down from € 42.54 billion in 2012, hurt by lower exports of medical and pharmaceutical products and a fall in petroleum sales. This is the lowest annual trade surplus since 2008. Published on 2014-02-14


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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