World Economy

Ireland Trade Surplus Up 37%

Ireland Trade Surplus Up 37%Ireland Trade Surplus Up 37%

Ireland’s trade surplus jumped by more than a third to €4.3 billion ($4.93 billion) in May, while there was a notable rise in the level of trade with the United Kingdom, RTE reported. Preliminary data from the Central Statistics Office show the value of goods exported increased by €644 million (+7%) to €10.12 billion between April and May, while imports for the same period fell by €519 million (-8%) to €5.88 billion. This resulted in a €1.16 billion (+37%) increase in the seasonally adjusted trade surplus. There was also a rise in the level of trade with the United Kingdom despite Brexit-related uncertainty over the future trading relationship, with exports rising by 14% to €1.24 billion in May of this year compared with the same month in 2016. Meanwhile, imports from the UK rose by 21% to €1.55 billion over the same time frame. Both imports to and exports from the UK are considerably higher for the first five months of this year, when compared with the same period in 2016.

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