Irish goods exports fall 16% in August as trade surplus narrows

Ireland's goods exports fell sharply in August, driven by lower shipments to the US and other international markets, while imports declined at a slower pace, figures from the Central Statistics Office showed on Friday.

The total value of goods exported fell to EUR15.9 billion in August from EUR18.9 billion in July, according to the CSO.

Meanwhile, goods imports decreased to EUR12.9 billion from EUR13.6 billion a month earlier.

As a result, Ireland's goods trade surplus narrowed to EUR3.0 billion in August from EUR5.3 billion in July.

Exports to the US fell to EUR3.8 billion from EUR5.0 billion in July, while shipments to the UK declined to EUR1.8 billion from EUR2.1 billion.

Exports to Europe decreased to EUR7.0 billion from EUR7.2 billion, while exports to the rest of the world dropped to EUR3.3 billion from EUR4.6 billion.

By product category, exports of chemicals and related products fell to EUR8.6 billion from EUR9.2 billion in July.

Exports of machinery and transport equipment declined to EUR3.4 billion from EUR4.7 billion.

On imports, purchases from the US fell to EUR1.8 billion from EUR2.0 billion, while imports from Europe fell 9.8% to EUR3.7 billion from EUR4.1 billion.

Imports from the UK were unchanged at EUR1.9 billion, while those from the rest of the world edged down to EUR5.5 billion from EUR5.6 billion.

Imports of machinery and transport equipment fell to EUR5.2 billion from EUR6.2 billion, while imports of chemicals and related products increased to EUR3.4 billion from EUR3.2 billion.

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