Ireland's trade surplus up by over one-fifth

Exports increased as imports fell in April...

Ireland's trade surplus up by over one-fifth

William Murphy, Flickr

Ireland's goods trade enjoyed healthy expansion in April, as the country's surplus rose by more than one-fifth.

The Central Statistics Office (CSO) has published preliminary figures for the month, recording a trade surplus increase of €819m (22%).

Goods exports increased €254m to €9.24bn, whilst good imports dropped 11% to €4.7bn, chiefly due to declining machinery imports.

Our trade surplus now stands at €4.53bn.

Half of total goods exports went to the EU, with €1.2bn going to Belgium and €1bn to Britain.

The United States continues to be our biggest export market aside from the EU, accounting for €2.42bn of total exports.

Meanwhile, the EU accounted for 62% of the value of goods imported. Some €1.2bn came from Britain.

Economists fear trade with Britain could be negatively impacted in the event of a Brexit, as a weakened sterling would hurt Irish exports into the UK market.