Exports rose by 5 per cent in June compared with May, while imports fell by 9 per cent, according to new figures from the Central Statistics Office (CSO).
The latest data shows that seasonally adjusted exports were just over €7.5 billion, while imports fell to almost €3.7 billion.
During the first five months of the year, exports rose 2 per cent to €36.8 billion, led by sharp rises in medical, pharmaceutical and chemical exports.
From January to May exports of computer equipment declined per cent while exports of telecoms equipment and power generating equipment fell by 27 per cent and 49 per cent respectively.
During the period exports to the US rose 18 per cent and there were also increases in goods shipped to Belgium, Switzerland, Bermuda and Spain. However, exports to Britain were down 9 per cent over the same period and there was also a noticeable decline in good shipped to Germany, the Philippines and the Netherlands.
Imports fell by 21 per cent from €25.398 million to €20.081 million in the first five months of the year.
Britain imports were down 31 per cent , while German imports fell 47 per cent and Chinese imports 26 per cent.
At the same time, imports from the US rose 30 per cent and there was also a rise in good entering the country from Canada, India, Austria and Argentina.
Minister for Trade and Commerce Billy Kelleher welcomed the latest data which he described as “encouraging,” particularly given the global downturn and recent current fluctuations.
Separately, Alan McQuaid, economist at stockbroking firm Bloxhams said the figures show that the trend in Irish exports in the year to date has been better than expected.
“Of course, most of the demand has come on the pharmaceuticals side, with indigenous exports suffering as a result of adverse exchange rates. We see the volume of merchandise exports down 4 to 5 per cent for the year as whole, a very good performance all things considered,” said Mr McQuaid.
“The bottom line is that the export side of the economy remains the one shining light at the moment, with a strong external trade performance set to limit the overall damage on the GDP contraction front,” he added.
