The Central Statistics Office has released figures that show the value of Ireland’s exports and imports fell in February.
Seasonally adjusted exports fell by €1.053bn between January and February 2012 – from €8.3bn to €7.3bn – while imports fell from €4.5bn to €3.7bn during the same period, the CSO said. As a result the trade surplus declined by nearly €200m.
Exports were down 4% on the same time in 2011, with imports declining 10% year-on-year.
Chief economist with Davy Research Conall Mac Coille said export growth has slowed markedly through 2011.
“Annual export growth in Q4 2011 was 3.5%, down from 7.0% in the year to Q4 2010,” Mr Mc Coille said.
“Today’s trade data paint a broadly similar picture and do not change our view that Irish export growth will slow sharply in 2012.”