Ireland Trade Surplus Shrinks In June

(RTTNews) - Ireland's foreign trade surplus decreased in June from a year ago as imports grew much faster than exports, figures from the Central Statistics Office showed on Tuesday.

On an unadjusted basis, the trade surplus declined to EUR 3.5 billion in June from EUR 4.6 billion in the corresponding month last year. Meanwhile, the surplus increased from EUR 3.39 billion in May.

Exports logged an annual growth of 7.1 percent in June, while imports jumped by 19.0 percent.  

The Central Statistics Office reported that Ireland's highest import volumes in June came from the United States, Great Britain, and China.

Trade patterns with key partners showed mixed results. Exports to Great Britain climbed 36.8 percent from a year ago, while imports from Great Britain increased 20.4 percent. Shipments to the United States declined 0.9 percent, but inflows from the US expanded sharply by 51.3 percent compared with the previous year.

On a seasonally adjusted basis, the trade surplus rose to EUR 3.5 billion in June from EUR 3.0 billion in May. Both exports and imports declined by 1.4 percent and 5.0 percent, respectively compared to the previous month.