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For more information on this release:
E-mail: Trade@cso.ie Ciarán Counihan (+353) 1 498 4215 Damian Malone (+353) 1 498 4206
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

May 2019

Seasonally adjusted
€ million
 ExportsImportsSurplus
December 201812,8859,0583,826
January 201913,7406,7037,037
February 201913,1536,9906,163
March 201910,9856,9814,004
April 201912,6207,2825,338
May 201913,1906,6896,501

Seasonally adjusted goods exports increase in May

Figure 1 Goods Exports and Imports seasonally adjusted
go to full release

Seasonally adjusted goods exports increased by €569 million (+5%) to €13,190 million in May 2019 compared with April 2019, according to preliminary figures.
 
Seasonally adjusted goods imports decreased by €594 million (-8%) to €6,689 million leading to an increase of €1,163 million (+22%) in the seasonally adjusted trade surplus to €6,501 million in May 2019 compared with the previous month (see Table 2).

Exports increased by over €1,700 million in May

The (unadjusted)* value of goods exports for May 2019 was €13,521 million representing an increase of €1,711 million (+14%) when compared with May 2018. The value of goods exports for the period January to May 2019 was €64,145 million, an increase of €7,487 million (+13%) when compared with the first five months of 2018.
 
The biggest rate of change in exports was Organic chemicals, which increased by €1,784 million (+98%) to €3,604 million in May 2019 compared with May 2018.
 
Exports of Medical and pharmaceutical products decreased by €825 million (-19%) to €3,627 million. Exports of Organic chemicals and Medical and pharmaceutical products combined represent 53% of total exports.
 
Exports of Electrical machinery, apparatus and appliances increased by €313 million (+86%) to €677 million, and exports of Professional, scientific and controlling apparatus increased by €124 million (+23%) to €666 million over the same comparative period. 

Imports decrease by €100 million in May

The (unadjusted) value of goods imports for May 2019 was €6,804 million representing a decrease of €120 million (-2%) when compared with May 2018. The value of goods imports for January to May 2019 was €34,509 million, which is an increase of €893 million (+3%) compared with January to May 2018.
 
Imports of Other transport equipment, including aircraft decreased by €458 million (-37%) to €789 million in May 2019 compared with May 2018.
 
Imports of Office machines and automatic data processing machines increased by €183 million (+60%) to €489 million.
 
Imports of Organic chemicals increased by €264 million (+83%) to €581 million over the same comparative period.
 
The value of goods imports for May 2019 excluding SITC 79 (Other transport equipment, including aircraft) was €6,015 million, an increase of €337 million (+6%) when compared with the corresponding May 2018 figure of €5,678 million.

Exports to Great Britain increase in May

Exports to Great Britain increased by €52 million (+4%) to €1,249 million in May 2019 compared with May 2018. The main increases were in the exports of Chemicals and related products and Mineral fuels, lubricants and related materials, with a fall in the exports of Food and live animals. Exports to Great Britain accounted for 9% of total exports.

The value of goods exports to Great Britain in the first five months of 2019 was €6,067 million, an increase of €486 million (+9%) on the first five months of 2018.

Imports from Great Britain decreased by €65 million (-4%) to €1,479 million in May 2019 compared with May 2018. The main decreases were in the imports of Chemicals and related products and Food and live animals (see Table 5). Imports from Great Britain were 22% of the value of total imports in May 2019.
 
The value of goods imports from Great Britain for the period January to May 2019 was €8,207 million, an increase of €854 million (+12%) on the first five months of 2018.

Geographic breakdown of goods exports and imports

The EU accounted for €6,789 million (50%) of total goods exports in May 2019 of which €1,517 million went to Germany and €1,427 million was exported to Belgium. Total EU exports in May increased by €1,026 million (+18%) compared with May 2018.

The USA was the main non-EU destination accounting for €3,726 million (28%) of total exports in May 2019.

The EU accounted for €4,331 million (64%) of total goods imports in May 2019, which is an increase of €48 million (+1%) compared with May 2018.

The USA with €696 million (10%) and China with €406 million (6%) were the main non-EU sources of imports.

*It should be noted that the detailed data described in Paragraph 3 onwards, and the data in Tables 1, 3, 4 and 5 are not seasonally adjusted. Only the data described in the first two paragraphs and in Table 2 are seasonally adjusted.

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
2010 90,92448,69542,229 100.0  100.0  100.0  100.0  100.0
201193,19153,03540,155 106.1  110.4  96.6  98.7  97.9
2012 93,50756,17937,328 100.6  120.2  102.2  96.0  106.5
201389,18255,78733,394 101.1  123.5  97.0  92.8  104.6
201492,61662,15830,458 103.8  130.1  98.2  98.1  100.1
2015112,40770,11142,296 115.5  143.6  106.8  100.3  106.5
2016119,29274,23745,055 125.6  158.2  102.7  93.3  110.2
2017122,78582,95639,829 135.8  168.9  99.3  96.1  103.3
2018140,71091,90448,806 156.2  189.2  99.1  99.5  99.6
         
2016Quarter 127,81317,62310,190 119.5  158.0  100.7  89.4  112.6
 Quarter 230,30718,94411,363 129.0  159.5  102.0  94.8  107.6
 Quarter 330,36118,13112,229 126.5  152.5  103.6  94.2  110.1
 Quarter 430,81219,53811,273 127.6  162.8  104.6  94.7  110.5
2017Quarter 132,17920,98511,194 137.0  160.2  103.3  98.4  104.9
 Quarter 231,07721,7459,331 134.2  182.1  101.9  95.6  106.7
 Quarter 328,98318,55010,433 129.1  152.0  98.1  94.9  103.4
 Quarter 430,54621,6768,871 141.0  176.8  93.8  95.4  98.2
2018Quarter 133,84520,08813,757 159.0  175.2  93.7  94.2  99.5
 Quarter 235,57921,88013,699 168.6  187.6  92.7  96.0  96.8
 Quarter 334,16423,21410,950 148.2  181.9  101.4  104.0  97.6
 Quarter 437,12226,72210,400 163.2  218.7  100.2  100.3  99.9
2019Quarter 137,94120,51917,422 161.7  177.9  103.2  94.4  109.5
         
2016January8,8935,1433,750 120.9  142.6  95.6  87.0  110.0
 February8,5665,4813,085 105.0  144.4  106.0  91.6  115.8
 March10,3546,9993,355 132.6  187.0  100.6  89.7  112.1
 April10,0535,5934,460 125.8  144.6  104.1  93.4  111.5
 May9,3856,4122,973 123.6  164.7  99.0  94.2  105.0
 June10,8686,9383,930 137.7  169.3  102.8  96.7  106.4
 July9,4115,7383,672 120.4  144.2  101.9  96.2  106.0
 August10,4645,7234,742 130.8  146.1  103.4  93.1  111.1
 September10,4866,6703,815 128.2  167.1  105.6  93.4  113.1
 October10,1995,7104,489 129.3  142.6  103.1  95.9  107.5
 November11,2017,2473,954 140.6  183.9  104.1  94.4  110.3
 December9,4126,5812,831 113.0  162.0  106.6  93.7  113.8
      
2017January9,9077,1982,708 122.8  144.7  106.4  98.9  107.6
 February10,2356,5343,702 135.1  158.7  99.6  98.3  101.3
March12,0377,2534,784 153.0  177.2  103.9  98.1  105.8
April9,8636,8523,011 122.6  167.2  106.2  98.0  108.4
May10,5617,6202,941 139.3  193.4  100.0  94.7  105.7
June10,6537,2743,379 140.6  185.6  99.6  94.0  106.0
July9,1785,6863,492 117.4  140.2  103.2  95.1  108.5
August9,6176,3293,288 126.1  153.9  98.2  93.6  104.9
September10,1886,5343,654 143.8  161.8  93.0  96.1  96.8
October9,6457,0362,609 143.2  180.8  88.3  92.5  95.5
November10,8497,4243,425 151.6  187.0  95.0  96.0  98.9
December10,0537,2162,837 128.3  162.7  98.0  97.7  100.3
        
20184January12,1036,5385,565 159.6  168.8  100.1  95.4  104.9
 February10,4026,4233,980 138.1  163.8  99.4  96.7  102.8
 March11,3407,1284,212 159.1  183.9  94.1  95.5  98.5
 April11,0026,6034,399 155.4  160.9  93.4  101.1  92.4
 May11,8116,9244,886 160.1  182.1  97.4  93.7  103.9
 June12,7668,3524,414 168.9  209.9  99.7  98.1  101.7
 July11,0757,7183,356 144.6  179.8  101.1  105.8  95.6
 August11,5387,2464,293 152.9  176.4  99.6  100.9  98.7
 September11,5518,2503,301 147.1  189.4  103.6  105.2  98.4
 October12,2548,8553,400 164.1  216.5  98.6  100.8  97.8
 November13,0018,8824,119 173.5  219.8  98.9  99.6  99.3
 December11,8678,9862,881 152.1  219.9  103.2  100.6  102.5
      
20194January13,6166,7736,842 174.8  183.4  102.8  91.0  113.0
 February12,5506,4166,135 162.0  167.4  102.2  94.5  108.2
 March11,7757,3304,444 148.3  182.8  104.7  97.6  107.3
 April12,6837,1855,497 166.0  192.9  100.8  91.8  109.8
May13,5216,8046,717 184.5  180.2  96.7  93.0  103.9
1 Trade statistics revised since 2000, see background notes.
2 Monthly data have been rescaled to make their average equal to the annual.
3 Export unit value index divided by Import unit value index.
4 Revised. May 2019 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
2016Quarter 127,86616,68211,184 119.7  149.6
 Quarter 229,75919,10110,659 126.5  161.3
 Quarter 330,22119,06911,152 125.7  161.2
 Quarter 431,01019,29411,716 129.0  159.6
2017Quarter 132,98320,42812,555 137.6  154.3
 Quarter 230,27022,0488,222 131.1  186.1
 Quarter 329,33219,4989,835 131.4  162.1
 Quarter 430,54421,2149,329 142.2  170.7
2018Quarter 133,99220,31313,679 157.4  173.2
 Quarter 234,72121,77212,949 165.5  187.3
 Quarter 335,04224,51010,531 152.9  195.3
 Quarter 437,24725,45711,790 164.2  208.8
2019Quarter 137,87820,67417,204 161.4  179.1
      
2016January9,4495,0914,358 127.0  145.3
 February8,9445,5283,417 108.7  143.8
 March9,4736,0643,409 123.3  159.6
 April9,8755,7214,154 125.3  148.7
 May9,6436,5123,132 124.8  167.8
 June10,2416,8683,373 129.4  167.4
 July9,2026,1963,006 118.3  156.8
 August 10,6985,9874,711 132.1  155.2
 September10,3216,8863,435 126.7  171.6
 October10,3565,8014,555 130.1  144.4
 November10,4206,8593,562 130.0  171.3
 December10,2346,6343,600 127.0  163.1
       
2017January10,7777,0463,731 129.5  140.8
 February11,1627,0234,138 141.8  168.3
 March11,0446,3594,685 141.4  153.9
 April9,8607,4052,454 124.0  181.5
 May10,5597,4563,104 136.6  192.1
 June9,8527,1882,664 132.7  184.7
 July9,7296,0493,680 124.5  151.1
 August9,6906,6643,026 126.4  163.3
 September9,9146,7863,129 143.3  172.0
 October9,8396,7783,061 141.9  172.4
 November9,9626,9792,982 140.5  172.9
 December10,7437,4573,286 144.3  166.7
       
2018January12,5156,9335,582 162.2  172.9
 February11,0166,9934,022 143.5  175.7
 March10,4626,3874,075 146.4  162.0
 April11,1516,8864,265 161.2  170.4
 May11,7726,5705,202 157.2  176.3
 June11,7988,3163,482 157.3  205.3
 July11,9038,0063,897 157.3  188.8
 August11,4317,8353,596 152.1  195.3
 September11,7078,6693,038 149.3  201.9
 October12,2488,2533,996 157.7  199.2
 November12,1148,1463,968 163.4  203.8
 December12,8859,0583,826 171.5  223.4
       
2019January13,7406,7037,037 176.3  188.4
 February13,1536,9906,163 170.7  176.8
 March10,9856,9814,004 137.2  172.1
 April12,6207,2825,338 165.4  196.4
May13,1906,6896,501 178.3  175.0
1 Based on seasonal patterns up to December 2018. Accordingly all values in this table may have been revised.
Table 3 Goods Exports and Imports classified by commodity1
€million
SITC (Rev 4)ExportsImports
MayMayJan-MayJan-MayMayMayJan-MayJan-May
20182019201820192018201920182019
0Food and live animals9731,0054,4604,6616786243,0873,188
0Live animals other than animals of Division 032520109100895045
1Meat and meat preparations3163001,5801,5718481417410
2Dairy products and birds' eggs2632789611,1097482355377
3Fish, crustaceans, molluscs and preparations thereof48552582792426118123
4Cereals and cereal preparations3443169222109108478562
5Vegetables and fruit2728146127125118539552
6Sugars, sugar preparations and honey141161573636155159
7Coffee, tea, cocoa, spices and manufactures thereof35341561654744240266
8Feeding stuff for animals (excluding unmilled cereals)292814015210058407365
9Miscellaneous edible products and preparations1832088808797161328330
1Beverages and tobacco1031115016167272308358
11Beverages 1031115016167067299338
12Tobacco and tobacco manufactures001025921
2Crude materials, inedible, except fuels1731448077618189388451
21Hides, skins and furskins, raw8546350000
22Oil seeds and oleaginous fruits 1148421313
23Crude rubber (including synthetic and reclaimed) 00011145
24Cork and wood1616717912166990
25Pulp and waste paper542622452129
26Textile fibres and their wastes111256561157
27Crude fertilisers and minerals (excluding coal, petroleum and precious stones)1414595813166580
28Metalliferous ores and metal scrap106804864482425103108
29Crude animal and vegetable materials nes121159542223107119
3Mineral fuels, lubricants and related materials601193608364685022,3092,788
32Coal, coke and briquettes101055577510425
33Petroleum, petroleum products and related materials28412242963733321,7251,757
34Gas, natural and manufactured41827787419507
35Electric current176873481117762499
4Animal and vegetable oils, fats and waxes6531272423111113
41Animal oils and fats5526221176
42Fixed vegetable fats and oils114421209598
43Animal or vegetable fats and oils, processed; waxes00112298
5Chemicals and related products7,4408,59035,53039,9491,6111,6528,1406,824
51Organic chemicals1,8203,60410,81014,0143175811,3171,585
52Inorganic chemicals172094833629141140
53Dyeing, tanning and colouring materials131258582221102107
54Medical and pharmaceutical products4,4513,62719,39820,2618486464,6792,983
55Essential oils; perfume materials; toilet and cleansing preparations7008493,1643,402118106548566
56Fertilisers (other than those of Division 27)11653842238270
57Plastics in primary forms41391861918982421413
58Plastics in non-primary forms43462102086366276330
59Chemical materials and products nes3543931,6051,7278080419431
6Manufactured goods classified chiefly by material2102069789674635132,2162,502
61Leather; leather manufactures nes; dressed furskins2211101188
62Rubber manufactures nes8940403131139155
63Cork and wood manufactures (excluding furniture)30271351292727118131
64Paper, paperboard and articles thereof141663737489368444
65Textile yarn, fabrics, made-up articles and related products141570664350209229
66Non-metallic mineral manufactures nes43401941884952233256
67Iron and steel171778777167352387
68Non-ferrous metals101450565256254261
69Manufactures of metals nes7366336328115140535632
7Machinery and transport equipment1,4321,7787,2259,0952,6512,42512,76813,713
71Power generating machinery and equipment89763863497695375482
72Machinery specialised for particular industries5761342297177140708727
73Metalworking machinery3312111195855
74General industrial machinery and equipment nes and parts nes161206769854160155725787
75Office machines and automatic data processing machines (including computers)3623701,7672,0503064891,4602,156
76Telecommunications and sound equipment12395481589133145735750
77Electrical machinery, apparatus and appliances nes and parts3646772,0052,9152232311,1171,222
78Road vehicles (including air-cushion vehicles)29321431423193711,7251,723
79Other transport equipment (including aircraft)2442571,3191,8881,2467895,8665,810
8Miscellaneous manufactured articles1,3411,4626,4056,7676827283,3203,672
81Prefab buildings; plumbing and electrical fixtures and fittings111064572324116128
82Furniture and parts thereof; bedding, cushions etc171878814648216239
83Travel goods, handbags and similar containers2391213155764
84Articles of apparel; clothing accessories16188185140156698771
85Footwear3316153033164176
87Professional, scientific and controlling apparatus nes5416662,4992,896148154749785
88Photographic apparatus; optical goods; watches and clocks1141265735923236162186
89Miscellaneous manufactured articles nes6376173,0843,0302502631,1571,322
9Commodities and transactions not classified elsewhere19361111724042196204
Unclassified estimates25264250292153135773696
           
Total11,81113,52156,65864,1456,9246,80433,61534,509
1 Trade statistics revised since 2000. May 2019 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
MayMayJan-MayJan-MayMayMayJan-MayJan-May
20182019201820192018201920182019
Austria32331871572628139142
Belgium1,3591,4277,2957,639191159691687
Bulgaria10154156321313
Croatia5418270147
Cyprus231229180191
Czech Republic43522362865480253264
Denmark60843082884248221222
Estonia221085187
Finland332314412511126174
France4124772,2322,3526578173,2653,767
Germany7361,5174,0505,4607475874,2213,259
Great Britain1,1971,2495,5816,0671,5441,4797,3538,207
Greece2925166253652232
Hungary 242213912638179662
Italy 4283221,4051,599109117812557
Latvia782625332022
Lithuania3315151195158
Luxembourg13146285522820
Malta482103161147
Netherlands6756962,9553,5353332951,2881,324
Northern Ireland173169805897123123607624
Poland95874184855469240347
Portugal383218419517199096
Romania30311441628103447
Slovakia873238442123
Slovenia773549221213
Spain2032201,027963183165680623
Sweden78943733967871344311
EU country not specified211164532338204217785
Total EU5,7636,78928,05531,5644,2824,33120,81421,600
  of which United Kingdom1,3701,4186,3866,9641,6671,6027,9608,831
Euro-Zone34,0354,81719,93922,5422,3292,22711,43310,713
        
Australia7884351306664743
Brazil154013513417167978
Canada12713955553510663248283
China44699031,9983,4463594061,9192,103
India31471381804952278295
Japan3692151,3681,104115107575505
Malaysia211985843454146267
Mexico1381585856202534143157
Norway31241721005542348272
Russia54732062962744230238
Saudi Arabia64652412811143
Singapore55572872232814168134
South Africa313312115011124347
South Korea50452552295071269358
Switzerland6465383,1252,85940291226499
Taiwan40391611383242120171
Thailand101559493136160180
Turkey66332873574565227299
USA3,2023,72616,17918,6761,1996965,8594,930
Other countries3864651,7131,885214195986974
Country unknown5165145819251982257271,072
Total Non-EU6,0486,73228,60232,5802,6422,47312,80112,908
         
Total11,81113,52156,65864,1456,9246,80433,61534,509
1 Trade statistics revised since 2000. May 2019 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.
4 China 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 SITCMayMayJan-MayJan-MayMayMayJan-MayJan-May
20182019201820192018201920182019
Great Britain1,1971,2495,5816,0671,5441,4797,3538,207
0Food and live animals3252851,5801,5792602391,2511,284
1Beverages and tobacco191876902423102128
2Crude materials, inedible, except fuels433519017320208599
3Mineral fuels, lubricants and related materials18711075772602731,2461,528
4Animal and vegetable oils, fats and waxes2187331917
5Chemicals and related products3974561,7561,7602441921,1321,161
6Manufactured goods classified chiefly by material9280418402172179802915
7Machinery and transport equipment1751788248362792961,3791,755
8Miscellaneous manufactured articles9896490502185179875928
9Commodities and transactions not classified elsewhere28301311419674462391
Other EU24,5665,53922,47525,4972,7392,85213,46213,394
0Food and live animals4084251,7581,8642762721,3161,338
1Beverages and tobacco34351531793535146167
2Crude materials, inedible, except fuels92834283892428131162
3Mineral fuels, lubricants and related materials26121219498138435450
4Animal and vegetable oils, fats and waxes33221817157072
5Chemicals and related products2,9063,74014,56517,1368545854,3912,605
6Manufactured goods classified chiefly by material8586400393165192796873
7Machinery and transport equipment5205732,5362,7281,0461,3455,0466,538
8Miscellaneous manufactured articles4535322,3152,480150161746795
9Commodities and transactions not classified elsewhere39491762167481385392
USA3,2023,72616,17918,6761,1996965,8594,930
0Food and live animals2637108144241799100
1Beverages and tobacco39422062711267
2Crude materials, inedible, except fuels331812351931
3Mineral fuels, lubricants and related materials15244713702625421
4Animal and vegetable oils, fats and waxes--000001
5Chemicals and related products2,3692,73211,94513,8382862621,4501,214
6Manufactured goods classified chiefly by material131768763934172177
7Machinery and transport equipment1992841,4211,5507312233,5442,367
8Miscellaneous manufactured articles5345832,3482,628104118488559
9Commodities and transactions not classified elsewhere441821995754
China34699031,9983,4463594061,9192,103
0Food and live animals5992318360351623
1Beverages and tobacco01120000
2Crude materials, inedible, except fuels432218231816
3Mineral fuels, lubricants and related materials002110000
4Animal and vegetable oils, fats and waxes00010000
5Chemicals and related products1832755908633244149168
6Manufactured goods classified chiefly by material5323113543189218
7Machinery and transport equipment1634747631,9651812039971,097
8Miscellaneous manufactured articles545526022499103521554
9Commodities and transactions not classified elsewhere0000662827
Rest of World2,3772,10310,42510,4581,0841,3715,0235,875
0Food and live animals15616669671311591405442
1Beverages and tobacco1116667411125457
2Crude materials, inedible, except fuels31191491693133135142
3Mineral fuels, lubricants and related materials112632810964603388
4Animal and vegetable oils, fats and waxes0011452223
5Chemicals and related products1,5841,3876,6736,3531955691,0181,676
6Manufactured goods classified chiefly by material152070845264256319
7Machinery and transport equipment3752691,6812,0164133581,8021,955
8Miscellaneous manufactured articles202196992933145167691836
9Commodities and transactions not classified elsewhere2173486873737
         
Total11,81113,52156,65864,1456,9246,80433,61534,509
1 Trade statistics revised since 2000. May 2019 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 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 (April 2019 in this publication), -4 (January 2019) and -8 (September 2018) 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 5,200 while around 2,200 must make a detailed export return. The response rate in terms of number of traders in May 2019 was 66%, covering an estimated 93% of the total value of intra-EU trade (these response rates will have increased by the next time data for May 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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