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For more information on this release:
E-mail: Trade@cso.ie Ciarán Counihan +353 1 4984215 Damian Malone +353 1 4984206
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 On-line ISSN 2009-5155
CSO statistical release, , 11am

Goods Exports and Imports

October 2016

Seasonally adjusted
€ million
 ExportsImportsSurplus
May 20169,4636,1903,273
June 201610,0646,2623,802
July 20169,0415,9123,130
August 201610,4905,9224,568
September 201610,0756,2723,803
October 201610,2675,1765,091

Seasonally adjusted goods imports decrease in October

Goods Exports and Imports seasonally adjusted
go to full release

Preliminary figures for October 2016 show that seasonally adjusted goods exports increased by €192 million (+2%) to €10,267 million compared with September 2016.

Seasonally adjusted goods imports decreased by €1,096 million (-18%) to €5,176 million, leading to an increase of €1,288 million (+34%) in the seasonally adjusted trade surplus to €5,091 million in October 2016 (see Table 2).

Exports of Electrical machinery increase in October

The (unadjusted) value of goods exports for October 2016 was €10,111 million, representing a decrease of €644 million (-6%) when compared with October 2015.  The value of goods exports for the period January to October 2016 was €96,914 million, an increase of €3,936 million (+4%) when compared with the first ten months of 2015.

Exports of Electrical machinery, apparatus and appliances increased by €454 million (+159%) to €740 million in October 2016 compared with October 2015.

Exports of Organic chemicals decreased by €420 million (-15%) to €2,442 million.

Exports of Professional, scientific and controlling apparatus decreased by €68 million (-12%) to €488 million over the same comparative period.

Imports of Medical and pharmaceutical goods decrease in October

The (unadjusted) value of goods imports for October 2016 was €5,095 million, representing a decrease of €1,241 million (-20%) when compared with October 2015.  The value of goods imports for January to October 2016 was €57,336 million, which is an increase of €415 million (+1%) compared with the first ten months of 2015.

Imports of Medical and pharmaceutical products decreased by €111 million (-19%) to €465 million in October 2016 compared with October 2015.

Imports of Machinery specialised for particular industries decreased by €97 million (-51%) to €93 million in October 2016

Imports of Petroleum decreased by €58 million (-20%) to €239 million over the same period.

The value of goods imports for October 2016 excluding SITC 79 (Other transport equipment, including aircraft) was €4,494 million, a decrease of €641 million (-13%) when compared with the corresponding October 2015 figure of €5,135 million.

Geographic breakdown of goods exports and imports

The EU accounted for €4,796 million (48%) of total goods exports in October 2016, of which €1,332 million went to Belgium and €1,019 million to Great Britain.

The USA was the main non-EU destination accounting for €2,759 million (27%) of total exports in October 2016.

Exports to the EU decreased by €473 million (-9%) in October 2016 compared with October 2015, while non-EU exports decreased by €171 million (-3%) over the same period.

The EU accounted for €3,303 (65%) of the value of goods imports in October 2016, with €1,314 million (26%) of total imports coming from Great Britain.

The USA with €658 million (13%) and China with €394 million (8%) were the main non-EU sources of imports.

Imports from the EU decreased by €573 million (-15%) in October 2016 compared with October 2015.  Non-EU imports decreased by €669 million (-27%) over the same period.

 

NOTE on revised data: This release includes significant revisions to International Trade in Goods statistics.  While the most significant revision is due to recording trade in aircraft on a "transfer of economic ownership" basis, other revisions have been incorporated into the Trade data back to 2000. The technical note (http://www.cso.ie/en/surveysandmethodology/externaltrade/) gives more detail on the revised trade in aircraft methodology and explains the impact the revisions will have on Trade in Goods, National Accounts and Balance of Payments. 

 

 

This map is © Ordnance Survey Ireland. All rights reserved. License number 01/05/001.
This map is © Ordnance Survey Ireland. All rights reserved. License number 01/05/001.
Table 1 Goods Exports and Imports summary analysis    
          
PeriodValue1Volume index2Unit value index2 
ExportsImportsTrade surplusBase year 2010=100
€m€m€mExportsImportsExportsImportsTerms of trade3
2000 83,98654,96029,026 86.7  107.8  106.5  104.7  101.7
2001 92,73056,45536,275 104.6  116.0  97.5  99.9  97.6
2002 94,05955,10638,953 110.7  122.0  93.4  92.7  100.8
2003 82,58548,51534,070 99.2  112.6  91.6  88.4  103.5
2004 84,94951,55733,392 101.9  108.7  91.7  97.4  94.1
2005 87,17358,46328,710 101.3  125.7  94.6  95.5  99.1
2006 87,49763,83323,664 99.4  132.4  96.9  99.0  97.8
2007 90,58065,93924,640 102.9  141.8  96.8  95.5  101.4
2008 88,50359,33629,168 93.2  126.8  104.4  96.1  108.6
2009 87,58648,20339,382 103.5  108.3  93.1  91.4  101.8
2010 90,92448,69542,229 100.0  100.0  100.0  100.0  100.0
2011 93,19153,03540,155 106.1  110.4  96.6  98.7  97.9
2012 93,50756,17937,328 100.6  120.2  102.2  96.0  106.5
2013 89,18255,78733,394 101.1  123.5  97.0  92.8  104.6
2014 92,61662,15830,458 103.8  130.1  98.2  98.1  100.1
2015 112,40770,11142,296 115.5  143.6  106.8  100.3  106.5
          
2014Quarter 121,76515,2276,538 102.1  129.8  93.7  96.5  97.2
 Quarter 223,55914,7458,814 105.9  127.7  97.8  94.9  103.0
 Quarter 323,27115,3457,926 103.6  127.5  98.9  98.9  100.0
 Quarter 424,02116,8407,180 103.3  139.1  102.3  99.5  102.9
2015Quarter 126,04316,8649,179 110.9  140.2  103.3  98.7  104.6
 Quarter 228,70516,98311,721 115.6  136.5  109.3  102.4  106.9
 Quarter 327,47716,73810,739 115.3  136.5  104.8  100.9  103.9
 Quarter 430,18319,52610,657 124.4  172.9  106.6  94.3  113.0
2016Quarter 127,27917,20510,073 123.3  152.8  97.6  92.5  105.5
 Quarter 229,78217,82511,957 132.8  149.3  98.6  98.0  100.7
 Quarter 329,74417,21112,532 130.5  145.3  100.2  97.3  103.0
          
2014January7,0855,1811,904 99.6  131.8  93.9  96.9  96.9
 February6,9594,6112,348 98.9  116.3  92.9  97.7  95.1
 March7,7205,4342,286 107.9  141.3  94.4  94.8  99.6
 April7,3224,8662,455 102.7  129.3  94.1  92.7  101.5
 May8,1584,9723,187 109.6  130.1  98.2  94.2  104.2
 June8,0804,9073,172 105.4  123.6  101.2  97.9  103.4
 July7,2525,2671,984 96.3  133.1  99.4  97.5  101.9
 August7,7734,7952,978 104.8  118.7  97.9  99.6  98.3
 September8,2475,2832,964 109.6  130.8  99.3  99.6  99.7
 October7,9325,5862,347 102.7  139.0  101.9  99.0  102.9
 November7,8645,5842,280 99.1  138.2  104.7  99.5  105.2
 December8,2245,6712,553 108.1  140.0  100.4  99.8  100.6
          
2015January8,2905,3682,922 107.1  133.2  102.1  99.3  102.9
 February8,3485,1363,212 107.7  131.0  102.3  96.6  105.8
 March9,4056,3603,045 117.7  156.4  105.5  100.2  105.2
 April9,6145,6373,977 115.9  133.3  109.5  104.2  105.0
 May9,1805,5353,645 110.3  129.2  109.8  105.6  104.0
 June9,9115,8114,099 120.4  147.0  108.6  97.4  111.5
 July9,4135,7653,648 116.0  139.9  107.1  101.5  105.5
 August8,6265,2093,416 112.9  124.0  100.8  103.6  97.4
 September9,4385,7633,675 117.2  145.5  106.3  97.6  108.9
 October10,7546,3364,418 128.7  171.0  110.1  93.7  117.4
 November10,1796,1963,983 129.2  164.1  104.0  95.5  108.9
 December9,2516,9942,256 115.4  183.7  105.8  93.8  112.8
       
20164January8,7615,0313,730 125.0  138.3  92.5  89.7  103.2
 February8,4345,3683,066 108.5  140.1  102.6  94.5  108.6
 March10,0836,8063,276 136.4  180.0  97.6  93.2  104.7
 April9,8925,4024,489 129.7  138.3  100.7  96.3  104.6
 May9,2106,0963,114 126.9  153.5  95.7  97.9  97.8
 June10,6806,3264,354 141.7  156.2  99.5  99.8  99.6
 July9,2465,4753,772 123.6  139.2  98.8  96.9  101.9
 August10,2615,6614,600 135.6  141.0  99.8  98.9  100.9
 September10,2366,0764,160 132.3  155.7  102.1  96.2  106.2
 October10,1115,0955,016 139.3  128.3  95.8  97.8  97.9
1 Trade statistics revised since 2000, see background notes.     
2 Monthly data have been rescaled to make their average equal to the annual.
   Indices have been rebased to the year 2010. See background notes.
3 Export unit value index divided by Import unit value index.     
4 Revised. October 2016 is based on current Intrastat response levels. See background notes.  
        
Table 2 Goods Exports and Imports seasonally adjusted1 series  
PeriodValueVolume index
ExportsImportsTrade surplusBase year 2010=100
€m€m€mExportsImports
     
2013Quarter 121,73113,4748,257 93.8  121.8
 Quarter 222,02313,9668,057 102.1  122.5
 Quarter 322,93514,0938,841 105.9  123.8
 Quarter 422,66014,3198,342 104.5  127.0
2014Quarter 121,80714,4487,359 102.0  124.2
Quarter 223,18314,8348,349 105.1  128.0
Quarter 323,36916,2647,105 104.0  134.1
Quarter 424,62416,8047,820 105.5  138.8
2015Quarter 126,28616,06210,224 112.8  132.4
 Quarter 228,46017,27111,189 113.8  136.4
 Quarter 327,21117,6129,599 114.5  145.2
 Quarter 430,82319,20511,618 126.7  172.4
2016Quarter 127,34116,29011,051 123.5  144.6
 Quarter 229,24317,97811,265 130.2  150.9
 Quarter 329,60618,10511,501 129.7  153.6
      
2013January6,9774,4572,520 93.6  124.6
 February7,1704,5972,574 93.3  122.4
March7,5844,4203,164 94.6  118.3
April7,5314,6032,928 98.8  121.5
May7,2464,5892,657 101.2  121.4
June7,2464,7752,472 106.2  124.7
July7,5684,6662,902 110.5  122.2
August7,8764,9322,944 105.0  128.9
September7,4904,4952,995 102.3  120.2
October7,5014,7652,736 105.7  125.9
November7,2334,9082,325 99.4  130.7
December7,9274,6463,281 108.5  124.5
2014January7,2734,7132,560 102.9  121.7
 February7,4154,6122,803 104.2  117.9
 March7,1195,1231,996 99.0  133.0
 April7,0804,5722,508 100.6  123.0
 May8,1715,2642,907 109.9  134.6
 June7,9324,9982,934 104.8  126.4
 July6,9515,5911,360 92.7  140.2
 August8,3885,3843,004 113.3  131.3
 September8,0305,2892,741 105.9  130.7
 October7,8735,5092,364 100.2  135.3
 November7,4085,7991,609 94.1  144.6
 December9,3435,4963,848 122.2  136.4
 
2015January8,6415,0073,633 111.0  128.0
 February8,9665,3163,650 116.1  132.0
 March8,6795,7392,941 111.4  137.2
 April9,7405,6784,061 118.6  130.5
 May9,3765,8873,489 108.7  135.2
 June9,3455,7063,639 114.2  143.4
 July9,0766,1022,974 114.5  149.2
 August9,1505,7253,425 118.7  139.0
 September8,9865,7863,200 110.4  147.4
 October10,8206,2504,570 128.7  171.9
 November9,5216,1083,413 121.3  164.2
 December10,4826,8463,635 130.0  181.2
   
2016January9,3094,9804,330 131.3  140.9
 February8,8075,4143,393 112.4  139.4
 March9,2255,8973,328 126.8  153.5
 April9,7165,5264,191 129.2  142.2
 May9,4636,1903,273 128.2  156.3
 June10,0646,2623,802 133.1  154.3
 July9,0415,9123,130 121.4  151.3
 August 10,4905,9224,568 136.9  149.7
 September10,0756,2723,803 130.7  159.9
 October10,2675,1765,091 140.2  130.0
1 Based on seasonal patterns up to December 2015. Accordingly all values in this table may have been revised.
Table 3 Goods Exports and Imports classified by commodity1 
 €million
SITC (Rev 4)ExportsImports
OctOctJan-OctJan-OctOctOctJan-OctJan-Oct
20152016201520162015201620152016
0Food and live animals8758448,0398,1586125645,3825,410
00Live animals other than animals of Division 0365252682284837151145
01Meat and meat preparations2893042,8612,9158286794786
02Dairy products and birds' eggs1511521,4811,4195449589500
03Fish, crustaceans, molluscs and preparations thereof45434614422621220216
04Cereals and cereal preparations39353343119091819853
05Vegetables and fruit232224023497979581,014
06Sugars, sugar preparations and honey21111291863530312316
07Coffee, tea, cocoa, spices and manufactures thereof35283083155755440458
08Feeding stuff for animals (excluding unmilled cereals)24252432277449630604
09Miscellaneous edible products and preparations1831981,7131,8814949469518
1Beverages and tobacco1271331,0551,0908374719751
11Beverages 1231331,0161,0567371642674
12Tobacco and tobacco manufactures4039351037777
2Crude materials, inedible, except fuels1411181,5271,2487360715682
21Hides, skins and furskins, raw12111291050000
22Oil seeds and oleaginous fruits 111212423024
23Crude rubber (including synthetic and reclaimed) 001111138
24Cork and wood13121321321513127127
25Pulp and waste paper575062535145
26Textile fibres and their wastes1211120112111612
27Crude fertilisers and minerals (excluding coal, petroleum and precious stones)1171151051211110114
28Metalliferous ores and metal scrap77598626172117207183
29Crude animal and vegetable materials nes10101051031512161168
3Mineral fuels, lubricants and related materials63586685614082994,4462,988
32Coal, coke and briquettes77868794150112
33Petroleum, petroleum products and related materials54505534382962393,2532,281
34Gas, natural and manufactured0151110056981582
35Electric current102425306213
4Animal and vegetable oils, fats and waxes6745651819201202
41Animal oils and fats563857121216
42Fixed vegetable fats and oils11561416167164
43Animal or vegetable fats and oils, processed; waxes0022322222
5Chemicals and related products6,4536,11653,57355,3371,1831,07311,36712,171
51Organic chemicals2,8622,44218,06520,1792332492,8993,547
52Inorganic chemicals7131361441920218222
53Dyeing, tanning and colouring materials11281142081918188189
54Medical and pharmaceutical products2,6062,69424,93524,5965774654,7774,937
55Essential oils; perfume materials; toilet and cleansing preparations6376036,7806,6601331291,0891,140
56Fertilisers (other than those of Division 27)00542216374282
57Plastics in primary forms32253423017664720675
58Plastics in non-primary forms45374284034747470483
59Chemical materials and products nes2522722,7692,8415864633695
6Manufactured goods classified chiefly by material1911781,7721,8064204353,9573,992
61Leather; leather manufactures nes; dressed furskins343133222019
62Rubber manufactures nes7664682724270258
63Cork and wood manufactures (excluding furniture)24232062172621210215
64Paper, paperboard and articles thereof15151231428274763718
65Textile yarn, fabrics, made-up articles and related products15141481414039373387
66Non-metallic mineral manufactures nes41403503835083422469
67Iron and steel11121731335851538539
68Non-ferrous metals7661654242489457
69Manufactures of metals nes68596166249299871930
7Machinery and transport equipment1,5701,38313,49715,8172,6461,71022,19822,851
71Power generating machinery and equipment51493853835060488581
72Machinery specialised for particular industries4642519579191931,9991,043
73Metalworking machinery1223191099392
74General industrial machinery and equipment nes and parts nes1551381,4471,4051571241,3481,313
75Office machines and automatic data processing machines (including computers)3052713,2993,0403582993,0872,749
76Telecommunications and sound equipment77617517271821391,2641,251
77Electrical machinery, apparatus and appliances nes and parts2857402,3185,8002361972,0382,041
78Road vehicles (including air-cushion vehicles)32232682622631882,5712,988
79Other transport equipment (including aircraft)618574,4873,6011,2016019,31110,794
8Miscellaneous manufactured articles1,2361,19411,80912,1027497236,6156,701
81Prefab buildings; plumbing and electrical fixtures and fittings15141301342424192195
82Furniture and parts thereof; bedding, cushions etc15141441584138365360
83Travel goods, handbags and similar containers2219231211114113
84Articles of apparel; clothing accessories29342452751751651,5091,537
85Footwear4536403131333322
87Professional, scientific and controlling apparatus nes5574885,0624,9991451311,4891,411
88Photographic apparatus; optical goods; watches and clocks871079181,0203338304343
89Miscellaneous manufactured articles nes5265315,2555,4522862862,3082,420
9Commodities and transactions not classified elsewhere34144571843133269301
Unclassified estimates257645365461131041,0511,286
           
Total10,75410,11192,97896,9146,3365,09556,92157,336
1 Trade statistics revised since 2000. October 2016 is based on current Intrastat response levels. See background notes.
2 Estimates for which a commodity classification is not available.
Table 4 Goods Exports and Imports classified by country1
        €million
CountryExportsImports
OctOctJan-OctJan-OctOctOctJan-OctJan-Oct
20152016201520162015201620152016
Austria34333593042024220217
Belgium1,3321,33212,06412,3871161311,0641,162
Bulgaria868268255635
Croatia12283201526
Cyprus4230270033
Czech Republic29353463105322413342
Denmark47615075124438380399
Estonia122338113812
Finland19252512103611145130
France4023744,0664,0619055916,6127,420
Germany6566496,2856,6255284504,6335,599
Great Britain1,2221,01911,38810,6781,5011,31413,76712,652
Greece2328252233443939
Hungary 19202662468995129
Italy 2161712,2241,985911479991,175
Latvia744651332731
Lithuania222929887457
Luxembourg445554223625
Malta222436211110
Netherlands4394814,1314,8692282212,2372,168
Northern Ireland1501361,4591,3479791909853
Poland95821,0031,1804948434462
Portugal27243623452220172201
Romania27243042408158397
Slovakia766268455750
Slovenia243264221932
Spain3871623,3902,4908282751888
Sweden100918006594031401355
EU country not specified2514302991826401275
Total EU5,2694,79649,89849,4463,8753,30334,08434,844
  of which Euro-Zone33,5633,30733,65633,8752,0471,70217,06519,218
         
Australia431178151,3277138394
Brazil23182021921411441124
Canada86867507903332404447
China42313191,9022,6014493943,6323,389
India38224652365038413462
Japan3283662,7132,305141891,5021,026
Malaysia18161991712724235249
Mexico1221441,1821,1642728299289
Norway2919256200134951,028870
Russia36323102941219139144
Saudi Arabia1044284967810248
Singapore39465044812215347360
South Africa1821229185467480
South Korea37484438225749480676
Switzerland8808765,1045,28777599191,241
Taiwan22151421793822276303
Thailand12211901744732488362
Turkey64335244203933395402
USA2,8692,75922,12625,1891,0656589,1069,271
Other countries4843154,1564,3661701421,9711,775
Country unknown511194074634580919
 
Total10,75410,11192,97896,9146,3365,09556,92157,336
1 Trade statistics revised since 2000. October 2016 is based on current Intrastat response levels. See background notes.
2 Includes estimates for traders below the Intrastat threshold and transactions where the EU country was not specified.
3 Euro-zone members from January 2015: Austria, Belgium, Germany, Spain, Finland, France, Luxembourg, Greece, Ireland,
  Italy, the Netherlands, Portugal, Slovenia, Malta, Cyprus, Slovakia, Estonia, Latvia and Lithuania.
4China includes Hong Kong and Macao.   
5 Trade for which the country of origin or country of final destination is unknown.
Table 5 Goods Exports and Imports classified by commodity and principal countries1
    €million
  ExportsImports
 Country by Section level of SITCOctOctJan-OctJan-OctOctOctJan-OctJan-Oct
20152016201520162015201620152016
Great Britain1,2221,01911,38810,6781,5011,31413,76712,652
0Food and live animals3653183,1252,9702662462,2242,220
1Beverages and tobacco19212021782724246263
2Crude materials, inedible, except fuels33323353141411140129
3Mineral fuels, lubricants and related materials50443463662561882,7191,653
4Animal and vegetable oils, fats and waxes11910343736
5Chemicals and related products3612453,3043,0132151911,9531,960
6Manufactured goods classified chiefly by material83807687921591561,4941,448
7Machinery and transport equipment1831542,1031,8262722422,3572,424
8Miscellaneous manufactured articles96959159342181911,9351,766
9Commodities and transactions not classified elsewhere30282792757260662754
Other EU24,0473,77738,51038,7682,3751,98820,31622,192
0Food and live animals3073032,9922,9732442452,3062,301
1Beverages and tobacco38373013453935335338
2Crude materials, inedible, except fuels75598416482421234230
3Mineral fuels, lubricants and related materials1313931062337285257
4Animal and vegetable oils, fats and waxes4533511213125129
5Chemicals and related products2,3372,41923,43923,4493814124,1174,201
6Manufactured goods classified chiefly by material77657126861521811,4581,495
7Machinery and transport equipment6613275,0705,1961,3008399,61511,119
8Miscellaneous manufactured articles4995034,6994,9531441461,3221,465
9Commodities and transactions not classified elsewhere36453303615759522656
USA2,8692,75922,12625,1891,0656589,1069,271
0Food and live animals36502103303226171201
1Beverages and tobacco5352390419211515
2Crude materials, inedible, except fuels323331433839
3Mineral fuels, lubricants and related materials0022484182127172
4Animal and vegetable oils, fats and waxes--000011
5Chemicals and related products1,9681,72514,15915,8273362752,5822,780
6Manufactured goods classified chiefly by material15201121793127317316
7Machinery and transport equipment3595122,9234,2295312214,8624,653
8Miscellaneous manufactured articles4293954,0314,059107969501,024
9Commodities and transactions not classified elsewhere734631574470
China3 2313191,9022,6014493943,6323,389
0Food and live animals5363516690233226
1Beverages and tobacco10550000
2Crude materials, inedible, except fuels1079476553234
3Mineral fuels, lubricants and related materials0000-000
4Animal and vegetable oils, fats and waxes00220000
5Chemicals and related products108576406811713207266
6Manufactured goods classified chiefly by material2129204234356347
7Machinery and transport equipment291623007812331931,8741,598
8Miscellaneous manufactured articles29293163461451411,0881,071
9Commodities and transactions not classified elsewhere-000544246
Rest of World2,3842,23619,05219,67894674110,0999,833
0Food and live animals1141111,1951,1956844649661
1Beverages and tobacco17221571441514122135
2Crude materials, inedible, except fuels20182241802620272250
3Mineral fuels, lubricants and related materials1054111711,315906
4Animal and vegetable oils, fats and waxes0012333836
5Chemicals and related products1,6801,67012,03112,3682351812,5082,964
6Manufactured goods classified chiefly by material14121511293738332387
7Machinery and transport equipment3392293,1023,7843102143,4903,056
8Miscellaneous manufactured articles1821721,8481,8091341491,3201,376
9Commodities and transactions not classified elsewhere18233763675161
          
Total10,75410,11192,97896,9146,3365,09556,92157,336
1 Trade statistics revised since 2000. October 2016 is based on current Intrastat response levels. See background notes. 
2 Includes estimates for traders below the Intrastat threshold and transactions where the EU country was not specified. 
3 China includes Hong Kong and Macao.

Background Notes

 

Introduction

Goods Exports and Imports statistics provide data on the movement of goods between countries. The statistics are a combination of Customs-based non-EU trade statistics and data from the Intrastat Survey of Irish traders involved in trade with other EU member states. The collection of trade data is the responsibility of VIMA (a branch of Revenue). The CSO is responsible for processing and disseminating the data.

Revisions to the Trade in Goods statistics

Since May 2015, significant revisions were incorporated into International Trade in Goods statistics.  While the most significant revision is due to recording trade in aircraft on a "transfer of economic ownership" basis, other revisions were incorporated into the Trade data back to 2000. 

Along with the aircraft revisions Goods Exports revisions also include upward revisions due to revaluing some products that had previously been recorded on a “transfer of economic ownership” basis, which was not in line with goods statistics methodology.  Also Goods Imports revisions include downward revisions due to a change in the estimation methodology for non-response.

The technical note (http://www.cso.ie/en/surveysandmethodology/externaltrade/) gives more detail on the revised trade in aircraft methodology and explains the impact the revisions will have on Trade in Goods, National Accounts and Balance of Payments.

Standard Revisions

Trade figures are subject to revision on the incorporation of late Intrastat and VAT returns and corrections made by traders. When the preliminary results for a month are published, the results for months -1 (September 2016 in this publication), -4 (June 2016) and -8 (February 2016) are revised. Following the move to a "transfer of economic ownership" basis for recording exports and imports of aircraft, SITC 79 figures are subject to revision on the incorporation of transactions from quarterly Balance of Payments (BoP) surveys. Such revisions will generally be incorporated into Goods Exports and Imports releases that coincide with quarterly BoP publications, i.e. when initial results are published for January, April, July and October.

Intrastat System

The Intrastat system has two components. Firstly, the Intrastat survey (conducted by the Revenue Commissioners), in which traders, above the Intrastat survey trade thresholds, make detailed monthly returns giving information on the quantity and value of all exports to or imports from EU countries.

The total number of traders required to make a detailed import return is around 3,500 while around 2,100 must make a detailed export return. The response rate in terms of number of traders in October 2016 was 70%, covering an estimated 91% of the total value of intra-EU trade (these response rates will have increased by the next time data for October is published).

The second component of the Intrastat system is the regular VAT return, on which all traders are required to record the total value of goods imported from and exported to other EU countries. This information provides the basis for determining total EU trade for those traders below the Intrastat survey thresholds. It is also used to maintain the register of EU traders.

Extrastat System

The statistics of trade with non-EU countries are compiled from the documents supplied by importers and exporters to the Customs authorities. The document is the Single Administrative Document (SAD) used for Customs clearance purposes.

Estimation

The figures in this release include estimates for traders above the Intrastat thresholds who did not make detailed returns for the period and for traders below the thresholds who did not provide aggregate intra-EU trade figures on their VAT returns.

Estimates for Intrastat non-respondents are apportioned to individual commodities and countries whenever previous Intrastat returns are available. Estimates for traders below the Intrastat thresholds are assigned to partner country where possible, but not to commodity.

More information is now being processed on lower value transactions. Prior to January 2012, transactions below €254 were grouped together, this value has now decreased to €127. Therefore, this has resulted in more detail being available at commodity level in Table 3 and at country level in Tables 4 and 5.

Unit Value Indices

The monthly unit value index measures monthly unit value trends relative to the annual levels in the preceding year using value weights relating to that year’s trade (Laspeyres index).

The annual index is compiled using value weights for both the current and previous year (Fisher index) to allow for change in the structure of trade in goods.

The monthly index series should be regarded as interim measures suitable for month-to-month comparisons within a given year. Previous monthly indices are revised when late returns are received.

When the annual unit value index is compiled, the monthly unit value indices are rescaled to make their average equal to the annual index.

The unit value index series has been rebased to 2010 from 1990. In the course of this rebasing, a detailed examination of the series was undertaken. This exercise has produced a number of modifications enabling production of a more robust series.

Seasonally Adjusted Series

Monthly exports, imports, trade surplus and the volume series for exports and imports have been seasonally adjusted using the US Bureau of the Census X-11 Variant of the Census Method 11 Seasonal Adjustment Program. In the main, monthly projections are based on series recalculated at the end of the previous year.

Methodology

There are methodological differences between the measurement of exports and imports in this release compared with Industrial Production, National Accounts and Balance of Payments statistics. This release records the movement of all goods over the frontier at the valuation placed on the goods at the time of crossing  the frontier. Industrial Production, National Accounts and Balance of Payments statistics take account of additional aspects of cross-frontier activities such as goods sent abroad for processing where goods cross the frontier without change of ownership. The CSO releases for those statistics provide more information on their methodology.

Services Exports and Imports

The quarterly Balance of Payments (BoP) statistics provide detail on Services exports and imports.

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