FX.co ★ Ireland Trade Surplus Grows To EUR 6.6 Bln

Ireland's foreign trade surplus increased at the end of the first quarter, as imports fell more rapidly than exports, figures from the Central Statistics Office showed on Wednesday.

The seasonally adjusted trade surplus rose to EUR 6.56 billion in March from EUR 4.43 billion in the previous month.

In the corresponding month last year, the trade balance showed a surplus of EUR 7.3 billion.

Exports logged a monthly decline of 3.0 percent in March, while imports plunged by 20.0 percent.

On an unadjusted basis, both exports and imports declined by 7.0 percent annually in March. As a result, the trade surplus shrank to EUR 7.6 billion from EUR 8.2 billion.

Exports to Great Britain surged by 25.0 percent yearly in March, while imports fell by 24.0 percent due to weak domestic demand for chemicals and related products, mineral fuels, lubricants and related materials, machinery, and transport equipment.