Export figures illustrate Ireland having the second highest trade surplus in EU
External trade figures published by the CSO, reveal that Ireland has the second largest trade surplus in the EU behind Germany.
These figures demonstrate a 5% increase in seasonally-adjusted exports in November compared with October, and a 9% annual increase in unadjusted exports compared with November 2010.
Irish exports for November were the second highest on record and the trade surplus in November increased 16% to €4.31billion, its highest level ever achieved. Overall, there has been a 4.3% increase in exports in the first 11 months of the year, compared to the same period in 2010.
These figures indicate the resilience of the Irish economy which illustrates the high level of expansion in our exports despite difficult international trading conditions. These figures are strengthening international confidence in Irish industry and its products.
In particular the exports of food grew by 14% and of dairy products by a very impressive 28%. This illustrates the importance of Irish farming industry which has also experienced growth in 2011. The national farm income is estimated to have increased by 27% in 2010.
It is this confidence in the strength and power of Irish exporting industries that will help to support a sustainable jobs recovery in Ireland.
These figures are crucial to our recovery, this is exemplified by Minister Bruton who has stated “that a strong export performance will be crucial to achieving the economic and jobs recovery we are all working so hard for.