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PRELIMINARY FIGURES for July show that Ireland’s trade surplus grew by 12 per cent in July, to its highest amount for almost a year.
The data published by the Central Statistics Office shows that the excess of exports over imports in July was €3.92 billion, up from €3.48 billion in June.
The increase is largely the result of a surge in exports, which rose by about 6 per cent to close to €7.926 billion – itself the highest level since January, and the second-highest figure in 17 months.
The value of imports, meanwhile, grew by just €14 million to €4.003 billion, which is some €600 million less than in March.
Breaking down the export figures by individual countries, exports to strategically important areas such as the United States, China and Russia were all higher in July 2012 than they were in 2011.
The USA remains Ireland’s largest export partner, with €1.784 billion of exports in July – up by 8.7 per cent compared to 2011 – ahead of Belgium (up by 55 per cent, to €1.301 billion) and Great Britain (up by 13.5 per cent to €1.051 billion).
Welcoming the figures, jobs minister Richard Bruton said Ireland’s strong export performance is continuing.
“This is the latest in a growing list of positive signs in the international environment,” Bruton insisted.
“I am determined to keep improving supports for exporters and reducing costs through continued implementation of the Action Plan for Jobs. In this way we can accelerate the transition to a sustainable economy, keep growing our exports, and create the jobs we need.”
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Well done Ireland !!!
and Enda… :-D finally this country is getting back on track after fina fail made a balls out of it…
Ah Liam, don’t ruin a good news story.
G’wan Ireland!!
Careful now Liam. Only bad news can be attributed to Enda on this site.
Well done bellEnda!!
he’s a fantastic man with a great hairstyle…
Nothing what so ever to do with Enda.
Say what u want about this crowd but I’d rather them than the robbers Finna failers
exports up, cost of borrowing down with a tough budget ahead… we’re not out of the wood yet… but the future looks brighter than it has in a long time it must be said.
And that’s just emigration…
Adrian
You sound just like the sort of guy I would take advice from whether we are talking about money or careers or pensions. I reckon you should change your position from ………oh yes, barman to personal financial consultant. Good luck with that!
How much tax on these “exports” will be LEGALLY avoided,…Ireland is a massive tax haven for Irish and international corporations who are laundering HUNDREDS OF BILLIONS through our corrupt financial system.Meanwhile we get poorer and are told to accept whatever cuts the puppet government says while this massive fraud goes on through the IFSC etc.We are losing billions while they lie and cover up using the excuse that we simple folk should be happy with the jobs they bring and anybody who questions their motives is a lunatic!!
http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/mar/24/google-ireland-tax-reasons-bermuda
“The internet giant doesn’t pay 12.5% corporate tax in Ireland, it pays 20%. But that figure is not the interesting one. The interesting figure is the gargantuan “administrative expense” that reduces its gross profit from €5.5bn to just €45m.”
Adrian I say you work as a barber or a barman. You’re listening to too many people talking out of both sides of their faces. Ireland is used for primary manufacturing by most multinationals and there is consensus among receiving , parent and origin countries on what is an acceptable transfer margin before tax is charged. Ireland gains from inward investment plus huge reinvestment and tax before we talk about suppliers, jobs and all the other benefits that accrue.
If we only had a domestic indigenous economy we would probably have the equivalent wealth of Turkey or Syria. What damage are you trying to do or is it deliberate?
@Mick..
Gimme a B
Gimme a U
Gimme an L
Gimme an L
Gimme an Shhhhhhh
….oh you get the idea!
How do you define wealth Mick…we have vast resources of people,fish,oil,gas,cattle,trees,ideas,goodwill etc so i dont think it would be back to the dark ages.But these resources no longer are under control of the pepole.They have been privatised and outsourced,deliberately and greedily.So the fundamentals of a indigenous economy dont even exist for people to use and control for themselves anylonger.This undermines the state and forces its citizens to become hired help for those with money.The tax and financial circles in Ireland are designed to launder money.The status quo created them to do it that way.
IMF says Bermuda is our biggest investor..
http://www.independent.ie/business/imf-says-bermuda-is-our-biggest-investor-3138201.html
The “recession” is the least of Irelands worries.
Adrian, you’re spot on, mate! Ire land is just a mostly clientilist economy with a reserve army of labour for British capitalism. Don’t you love how the old Civil War politics of tweedle dum tweedle dee still pops up, Fianna/Fine WTF, they’re all cute hoors and not worthy to stand at Bodenstown every year. What was 1916 for if Ireland’ is still not financiially independent, relying on crumbs from transnationals? And if it was Turkey or Syria, people would be on the streets kicking this shower out. TAL
Now everyone go pay your €500 property tax and €500 water charges next year.
The Futures bright, the futures Enda.
Dead Cat Bounce, thats all.
You must find the green shoots so depressing.
What Green Shoots?
Are you going to pay your property tax and water charges next year like a good little boy?
Green shoots:
Our economy actually grew this year
Our borrowing costs have plummeted
Exports are up
Who are you to decide what taxes you should and shouldn’t pay? You probably buy your diesel from the IRA.
you think our economy is growing? It fell by 2% last year. Your one of these fools who believe in false GDP figures when in fact GNP is more accurate.
Borrowing costs have gone down because the EU has promised to back them, however we aint borrowing at the minute so it matters not what they cost. Lets see what the real value is next year when we go to the
markets.
Exports are up? So What, its all about the Tax. We dont collect that much tax from some of them, and the domestic economy will wipe out anything we do collect.
The Government have failed to collect €100 in household tax from nearly half of all home owners, good luck collecting €1000 in property tax and water charges next year.
What do you think will happen when investors realise that the Irish people cant afford all this Austerity and the government cant pay back all the debt?
your IRA comment is simply childish and silly.
Are you going to pay your New Taxes for the banks next year?
GNP is likely to be -0.3% this year – a massive improvement on last year.
Borrowing costs have been falling since way before last weeks announcement.
Exports being up means more than just taxes. Would you rather exports were down?
My point re you picking and choosing the taxes you deign to pay is not childish. These are not ‘bank taxes’ . Don’t pay your household charge and your local services will suffer.
Why do you bother paying any tax at all if this is how you feel? How can you be against austerity and widening the tax base?
eh the money has to come from somewhere real Ireland… Enda can’t magic cash out of his ass so yes, I’ll pay towards bailing this country out of the mess its in because of the last government.
GNP is likely to be -0.3% this year – a massive improvement on last year.
So the Irish Economy is still shrinking then! 0.3% is not Growth!
Borrowing costs have been falling since way before last weeks announcement.
They were still to high for us to avail off.
Exports being up means more than just taxes. Would you rather exports were down?
No it does not, it simply means companies exported more. Higher Profits mean more taxes, we dont know yet what declared profits these companies are going to make.
My point re you picking and choosing the taxes you deign to pay is not childish. These are not ‘bank taxes’ .
Oh yes they are, Irish people have been paying for these services in current tax. Now the government have to pay back bank debts they need cash. Easy option Create a bogus Property tax and water tax. Good luck in collecting it.
Don’t pay your household charge and your local services will suffer.
What more than what they are already?
I live in rural Ireland and get nothing as it is. I will one of the many refusing to pay. glad you have a pare grand to pay for them.
Why do you bother paying any tax at all if this is how you feel? How can you be against austerity and widening the tax base?
I pay plenty of tax, always have always will. Im not about to pay more tax to allow FG/Labour and FF to continue living their lavish lifestyles, massive salaries and pensions, and high paid public servants trying to dictate that us mere lower plebs should take more pain.
Real Ireland
Leave aside all your guff about refusing to pay legally imposed taxes and answer one tiny meaney question. What will you say to the Revenue Commissioners next year when they ask you for payment of the property tax?
Im happy to go to court along with all the other people.
If you adopt the attitude, sure what can you do we would still be under British rule.
Give it a rest bob ,,, most farmers run there privet cars on green and get away with it ,,, so stop with the silly comments
Export number could be manipulated by multinational sector . Services and manufacturing. They channel their global sales through Ireland for the tax avoidance .they can increase their sales by a billion and they wouldn’t hire anybody extra. Some of them small offices 30-40 people claiming to have sales done through ireland worth billions , interesting productivity rate …..
have your say