The seasonally adjusted value of exports fell 6 per cent to €7.3 billion in March leading to a narrowing of the trade surplus compared with the previous month.
External trade data from the Central Statistics Office (CSO) this morning shows the value of exports was €7.28 billion in March, while imports were unchanged at €4.14 billion, compared with February.
This resulted in the seasonally adjusted trade surplus in March narrowing to €3.14 billion from €3.6 billion the previous month.
A detailed breakdown of the January and February data shows that the value of exports declined 4 per cent year-on-year to €13.89 billion.
The value of computer equipment exports dropped 29 per cent, electrical machinery by 40 per cent and industrial machinery by 42 per cent.
Exports of medical and pharmaceutical products were 4 per cent higher during the first two months of the year compared with the same period in 2008.
Imports were 25 per cent lower during the first two months of the year compared with the same period last year with the number of road vehicles brought into the State collapsing 74 per cent.
Iron and steel imports were 49 per cent lower, reflecting the slowdown in the construction sector. Imports from Germany were almost half their 2008 levels.
Separate industrial production and turnover data released by the CSO showed industrial production fell 6.9 per cent in March from a year earlier.
The so-called “modern” sector, comprising a number of high-technology and chemical industries, showed an annual decline of 2.9 per cent, while other sectors fell 17.9 per cent, it said.
