Ireland records EU’s second-highest trade surplus

15 Feb 2011

Ireland recorded the second-highest trade surplus in the EU from January-November 2010, according to Eurostat figures.

Chambers Ireland says this is another positive development that will contribute to boosting confidence in the country.

“Today’s figures show that Ireland recorded the second-highest trade surplus in the EU after Germany for the period January to November 2010. Irish exports rose by 5pc to €81.2bn while imports dropped by 1pc to €40.9bn, giving a trade surplus of €40.3bn,” said Seán Murphy, Chambers Ireland deputy chief executive.

Export growth trails Greece and Denmark

“Although these statistics are very encouraging, it must be noted that during the same period, Ireland had the lowest export growth (5pc) behind Greece (6pc) and Denmark (9pc).

“While we always expected that our recovery would start with period of jobless growth, these figures show that we are moving in right direction.”

Murphy said the key challenge for the next Government is to introduce measures that facilitate and encourage business in terms of cutting costs and supporting exports so they all can benefit from the growth opportunities that will arise.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years