Irish Trade minister welcomes Ireland's strong trade performance

Ireland's Minister for Labour, Trade and Consumer Affairs, Tom Kitt, has welcomed the positive trade performance recorded in the 2001 trade figures issued by the Central Statistics Office (CSO).

Minister Kitt said: "The CSO trade release shows that Ireland's merchandise trade performance in 2001 in the face of a difficult international trading environment was outstanding.

"Exports totalled over €92.5 billion, the highest level ever recorded. The trade surplus also exceed all previous records and grew by 26 per cent to stand at over €35 billion.

"Our export growth remains well above the global and EU averages," said the Minister. "Irish exporters are world class competitors, and these strong trade figures in the face of last year's global slowdown assure me that the exporting sector continues to be flexible, competitive and capable of withstanding swings in demand."

Exports to the EU accounted for 62 per cent of total exports last year, with exports to the euro zone accounting for 36 per cent. Great Britain was our largest export market, with 22 per cent of exports, followed by the US, with 17 per cent.

Mr Kitt said that the international slowdown last year was reflected in slower export growth in the second half of the year. However, preliminary export figures for January 2002 show healthy growth over the same month last year.

He said that he remained confident that Irish exporters were in a good position to take advantage of the emerging global economic upturn and he looked forward to a year of continued export growth.

In 2001 Ireland's exports totalled €92.5 billion, an increase of 10 per cent. The principal export markets in 2001 were the UK (€22.2 billion), the US €15.7 billion, and Germany (€11.7 billion).

Ireland's export growth remains well above the global and EU averages.

(SP)