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Record Level of Exports in 2016

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Record Level of Exports in 2016

Record Level of Exports in 2016
February 15
15:01 2017

Exports totalled more than €116 billion in 2016, the highest annual total on record, according to preliminary figures released by the Central Statistics Office on Wednesday. This is an increase of €4.5 billion (4%) over 2015. Imports in 2016 decreased by €507 million (1%) to €69.60 billion compared with 2015 while the preliminary trade surplus for 2016 was €47.312 billion.

The largest increase in exports was of Electrical machinery, apparatus and appliances which increased by €4.37 billion (150%) to €7.29 billion in 2016 compared with 2015. This was followed by exports of Organic chemicals which increased by €2.1 billion (10%) to €23.6 billion.

Imports of Mineral fuels, lubricants and related materials decreased by €1.36 billion (27%) to €3.74 billion in 2016 compared with 2015. Imports of Machinery specialised for particular industries fell by €1.14 billion (48%) to €1.24 billion over the same period.

Imports of Medical and pharmaceutical products and Organic chemicals both increased giving an overall increase of €986 million (7%) for the sector Chemicals and related products.

Exports to Great Britain decreased by €496 million (4%) to €13.31 billion in 2016 compared with 2015, while imports from Great Britain decreased by €1.35 billion (8%) to €15.54 billion in the same period.

Exports to the USA increased by €3.34 billion (12%) to €30.20 billion in 2016. Exports to EU countries fell by €193 million (0.3%) to €59.65 billion, while exports to the rest of the world increased by €4.70 billion (9%) in 2016.

Imports from EU countries decreased by €339 million (1%) to €42.05 billion. Imports from the rest of the world decreased by €168 million (1%) to €27.54 billion in 2016.

Preliminary figures for December 2016 show that seasonally adjusted goods exports decreased by €646 million (6%) to €9.6 billion compared with November 2016.

Seasonally adjusted goods imports also decreased, by €604 million (10%) to €559 billion, leading to a decrease of €42 million (1%) in the seasonally adjusted trade surplus to €4.01 billion in December 2016.

The (unadjusted) value of goods exports for December 2016 was €8.83 billion, representing a decrease of €415 million (5%) when compared with December 2015.

Exports of Medical and pharmaceutical products decreased by €433 million (16%) to €2.21 billion in December 2016 compared with December 2015.

Exports of Office machinery and automatic data processing machines (including computers) decreased by €132 million (23%) to €455 million over the same comparative period.

Exports of Electrical machinery, apparatus and appliances increased by €466 million (143%) to €792 million.

The (unadjusted) value of goods imports for December 2016 was €5.54 billion, representing a decrease of €1.44 billion (21%) when compared with December 2015.

Imports of Road vehicles decreased by €47 million (10%) to €412 million in December 2016 compared with December 2015.

Imports of Organic chemicals decreased by €216 million (43%) to €292 million in December 2016.

Imports of Medical and pharmaceutical products decreased by €112 million (25%) to €341 million over the same period.

The value of goods imports for December 2016 excluding SITC 79 (Other transport equipment, including aircraft) was €4.85 billion, a decrease of €607 million (11%) when compared with the corresponding December 2015 figure of €5.46 billion.

The EU accounted for €4.61 billion (52%) of total goods exports in December 2016, of which €1.06 billion went to Great Britain and €1.03 billion to Belgium.

The USA was the main non-EU destination accounting for €2,109 million (24%) of total exports in December 2016.

Exports to the EU increased by €36 million (1%) in December 2016 compared with December 2015, while exports to the rest of the world decreased by €450 million (10%) over the same period.

The EU accounted for 65% of the value of goods imports in December 2016, with €1.421 billion (26%) of total imports coming from Great Britain.

The USA with €593 million (11%) and China with €402 million (7%) were the main non-EU sources of imports.

Imports from the EU decreased by €864 million (19%) in December 2016 compared with December 2015. Imports from the rest of the world also decreased by €585 million (23%) over the same period.

Decimal figures have been rounded down. The CSO’s report can be found here.

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