http://www.rte.ie/business/2008/0723/cso.html
- a seasonally adjusted month on month rise of 7%
- No change on unadjutsed basis, but imports down 11%
- 10 billion trade surplus for the first 4 months of 08
- Every one praying that the dollar will not weaken further......which it will......
When buying and selling are controlled by legislation, the first things to be bought and sold are legislators
What about service imports/exports.
It's not really good at all. Go to the CSO and download the full data. Exports are down sizeably in volume terms over the first 4 months of the year. The big culprit appears to be Dell as Computer Equipment is down 23% (the effect of the Poland plant?). We are losing trade with the EU and pretty static with the Rest of the World. Overall trading by Ireland Inc. is down in volume terms.Originally Posted by lowtaxireland
well...i exported about 200 grand of services this month, but I can't speak for the economy as a whole
When buying and selling are controlled by legislation, the first things to be bought and sold are legislators
It's great that exports are continuing to rise, hopefully imports will decline/slow sufficiently to boost the trade surplus because we're going to need a few bob coming in to get out of the hole we are in.
These figures seem to indicate a shift in the markets but are far from stable or settled.
There has been a mirror image decline in imports/exports of computer equipment at 23%, this would seem to indicate that assembly of computer equipment in Ireland by the likes of Dell has declined by 23%.
Petroleum imports rose by 24% and petroleum exports rose by 79% which is strange because we don't extract oil in this country, we only refine it. It would appear to me that this is fuel being smuggled to NI. Gas, which we do extract, seems to be a seperate category so could not account for the increases. Is biofuel included? We seem to have seen a large increase in domestic demand for fertiliser but a decrease in export of eggs and dairy.
Exports of electrical machinery have increased by 5% while imports of electrical equipment have slowed by 14%. I'm not sure what this means. Whether it's simply a decline in consumption of these devices or a decrease in assembly activity and the out flow of raw materials. It could be that we've stopped buying fancy designer European applicances and that Glen Dimplex brands like Morphy Richards and Russel Hobbs are finding new markets at home and abroad.
Are the pharma industries and organic chemicals connected? We have seen an increase in domestic consumption of organic chemicals (export down 13% import up 8%) and an increase of exports of Pharma (8%).
We have also seen an increase in export of chemical materials (47%). Does this represent the shift away from traditional pharma to bio-pharma?
A large portion of the decline in imports seems to be in road vehicles and other transport equipment. i.e. consumer demand for cars and industry demand for plant machinery.
The future saviour of the Irish Economy:
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