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16/11/2011
Ireland's Exports Make 'Crucial' Recovery
The Enterprise Minister has welcomed the latest figures published by the CSO, showing a 4% rise in exports in September despite the difficulties in the global economy.
Speaking about the figures, Richard Bruton said strong exports were "crucial" in order to see recovery.
According to the CSO figures, Ireland had an 11% increase in the trade surplus in September, month-on month, while, for the month of September, the trade surplus was at €4.113 billion, very close to the all-time high of €4.183billion achieved in June of this year.
The figures also showed a 4% increase in exports in the first eight months of the year, compared to the same period last year.
Minister Bruton said: "Clearly the current difficulties in the markets into which we export make this a lot more precarious. In that context, today’s figures showing a continued strong export performance are extremely welcome.
"It goes without saying that given the global challenges, we must redouble our efforts if we are to sustain and improve this performance. I am determined to work hard along with my Department and colleagues across government to keep driving change to increase competitiveness, improve access to finance and encourage innovation so that our exports can lead a sustainable recovery across the economy."
However, at the start of November, the Irish Exporters Association (ISA) revised downward its projection for full year growth in Irish Exports after poor results in the third quarter.
According to Mr John Whelan, Chief Executive at the Irish Exporters Association, September's results were an "unexpected turn of events for the Irish export sector" that could have derailed the Irish economic recovery, which has placed a high dependence on the recovery being export-led.
But the strong figures released today may quell the exporter's fears of a downward trend.
(DW)
Speaking about the figures, Richard Bruton said strong exports were "crucial" in order to see recovery.
According to the CSO figures, Ireland had an 11% increase in the trade surplus in September, month-on month, while, for the month of September, the trade surplus was at €4.113 billion, very close to the all-time high of €4.183billion achieved in June of this year.
The figures also showed a 4% increase in exports in the first eight months of the year, compared to the same period last year.
Minister Bruton said: "Clearly the current difficulties in the markets into which we export make this a lot more precarious. In that context, today’s figures showing a continued strong export performance are extremely welcome.
"It goes without saying that given the global challenges, we must redouble our efforts if we are to sustain and improve this performance. I am determined to work hard along with my Department and colleagues across government to keep driving change to increase competitiveness, improve access to finance and encourage innovation so that our exports can lead a sustainable recovery across the economy."
However, at the start of November, the Irish Exporters Association (ISA) revised downward its projection for full year growth in Irish Exports after poor results in the third quarter.
According to Mr John Whelan, Chief Executive at the Irish Exporters Association, September's results were an "unexpected turn of events for the Irish export sector" that could have derailed the Irish economic recovery, which has placed a high dependence on the recovery being export-led.
But the strong figures released today may quell the exporter's fears of a downward trend.
(DW)
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Merchandise trade statistics published by the CSO, which show an rise of 6% on the same month last year, have been welcomed. Exports in April 2011 were valued at €7.79 billion. The Irish Minister for Jobs, Enterprise and Innovation Richard Bruton said: "A strong export performance will be crucial in driving the recovery in the wider Irish economy.
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