Irish Exports Reach Record €122 Billion In 2017
Irish exports totalled €122.1 billion in 2017, the highest annual total on record, according to preliminary figures by the Central Statistics Office (CSO).
This marks an increase of 2%, up €2.8 billion, compared to the year before. The preliminary trade surplus for 2017 was €45.3 billion.
Medical and pharmaceutical exports increased the most, by €5.2 billion (+17%) to €35.4 billion during the period. Food and live animal exports increased by €1.3 billion (+12%) to 11.4 billion.
Imports also grew to a record level in the period, increasing by 2.8 billion (+4%) to €17.4 billion.
Mineral fuels, lubricants and related materials increased by €903 million (+24%) to €4.7 billion, while other transport equipment, including aircraft, decreased by €1.5 billion (-9%) to €14.96 billion and road vehicles imports decreased by €265 million (-7%) to €3.5 billion.
Exports to Britain increased by 8% to €14.45 billion in 2017, year-on-year. This increase was driven largely due to the increases in chemicals and related products as well as food and live animals, with increases of 22% and 8%, respectively.
Meanwhile, exports to the US increased by 4% to €33.2 billion, while exports to EU countries increased by 4% to €62.7 billion and exports to non-EU countries grew marginally by 0.3% to €59.4 billion.
Imports from the US increased by 11.9% to 15.6 billion, while EU country imports increased by 3% to €45.3 billion and non-EU countries increased by 4% to €31.6 billion.
© 2018 - Checkout Magazine by Kevin Duggan