The State’s trade surplus narrowed in June, as imports grew at a faster rate than exports, according to the Central Statistics Office (CSO).

When adjusted to take seasonal factors into account, exports in June were €13.7 billion – up 1% from May. Imports increased by 4% to just over €9 billion, giving a surplus of almost €4.7 billion.

The trade surplus has been narrowing over the past few months, as imports have picked up.

Big drop in British imports

Figures for the first six month of 2021 show that exports were 2% lower than in the same period last year. June’s exports, however, showed a 6% increase compared with the same month last year.

Imports in the first half of 2021 jumped by 20% compared with the same period last year. June imports were up 43% compared with the same month last year, with imports of chemicals more than trebling.

The trade figures show a sharp drop in the value of goods imported from Britain in the first six months of this year – the total of €5.3 billion represented a fall of more than 30%. Exports of €6.7 billion were up 20%.

The EU accounted for just over one-third of Irish exports in June. The US took 30% of exports, and Britain 10%.