Value of Exports decline by 14.2%

Recent figures show that there was still a drop of 14.2% in the value of exports between November 2008 and November 2009, even though pharmaceuticals continued to sustain Ireland’s trade at the end of last year. Exports dropped by 1% between October and November, while imports increased by 6%.

Ronnie O’Toole, chief economist with National Irish Bank, forecasted that total goods exports for 2009 would drop 3% on 2008 levels. He also explained that while chemicals were balancing the declines in exports for the majority of last year, they did begin to weaken at the end of last year.

With regards to imports, there was a sizeable drop in computer manufacturing activity; the car market saw a 76% annual reduction with importing vehicles and “consumerable goods” returned to the 2004 level.

Source - http://www.irishtimes.com/newspaper/finance/2010/0122/1224262842186.html