Economics: Irelandâ€™s seasonally-adjusted trade surplus likely to have picked up in October
Also on Friday, the Central Statistics Office (CSO) will publish Irelandâ€™s monthly external trade data for October. Ireland posted a seasonally-adjusted merchandise surplus of â‚¬3,595m in September, up from the revised positive balance of â‚¬3,303m (â‚¬3,599m) in August. Seasonally-adjusted exports were up 1.2% in the month at â‚¬9,343m, while imports recorded a fall of 3.0% to â‚¬5,748m.
Meanwhile, on an unadjusted basis there was a surplus of â‚¬4,066m in September, â‚¬242m above the surplus of â‚¬3,824m posted in the ninth month of 2016. Unadjusted exports amounted to â‚¬9,601m in September, representing a decrease of â‚¬885m (-8.4%) on September 2016. Exports of Organic chemicals declined by â‚¬546m (-29.0%) to â‚¬1,337m; Electrical machinery, apparatus and appliances fell by â‚¬115m (-19.2%) to â‚¬485m but Medical and pharmaceutical products increased by â‚¬332m (+13.0%) to â‚¬2,882m compared with the same month last year.
The trade outlook going forward remains clouded in uncertainty as a result of â€œBrexitâ€, but we are still anticipating another solid performance this year. Indeed, based on the very positive start to 2017, with the trade balance in the first nine months running â‚¬1.2bn above that of the same time last year, a record surplus now looks on the cards of around â‚¬46-47bn, up from â‚¬45.2bn in 2016. As regards October, a seasonally-adjusted trade surplus of â‚¬3,800m is projected.