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Irish exports were unchanged annually in October, while imports plunged, as the country imported less from the Europe than it exported to it, Ireland’s Central Statistical Office reported Friday.
Exports in October were ‘virtually the same’ year-on-year at €17.63 billion, compared to €17.57 billion in 2022.
Exports notably jumped 17% to €7.70 billion from €6.59 billion the year prior in the European Union. They also rose by 8% in Northern Ireland to €481 million from €446 million.
However, exports to Great Britain fell by 29% to €1.25 billion from €1.63 billion in the corresponding month in 2022, which represented 7% of total exports in October. Exports also dropped 8% to the US to €4.88 billion, compared to €5.31 billion. To the rest of the world, there was also a decrease in exports of 5% to €3.43 billion, from €3.59 billion.
Exports of medical & pharmaceutical products, which represented 43% of total exports, jumped by 17% annually to €7.61 billion in October.
Total imports in October plunged 13% to €10.83 billion from €12.51 billion a year ago. The largest driver of this decrease was Great Britain, which had monthly imports fall by 47% to €1.48 billion from €2.78 billion in October 2022. Imports to the EU plummeted 15% to €3.48 billion from €4.12 billion. Imports to Northern Ireland, however, climbed 20% to €484 million from €403 million year-on-year, and by 7% to the rest of the world to €3.67 million from €3.43 million.
Imports of mineral fuels, lubricants & related materials had the largest decrease of 47% to €720 million.
Ireland recorded a trade surplus of €7.29 billion in October, compared to €4.13 billion in September.
Meanwhile, services producer prices in the third quarter of 2023 were unchanged year-on-year. Notably, in the third quarter, Employment & Human Resource Activities rose 11% year-on-year, while Architecture, and Engineering & Technical Testing grew 10%. Sea & Coastal Transport dropped 23% annually.
Services producer prices fell 1.5% in the third quarter, compared to a 0.1% drop in the second quarter.
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