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Displaying items by tag: Record Trade Surplus

In the first 11 months of last year, exports from Ireland had reached €193bn, which was an increase of 27% compared to the same period in 2021, as the latest Central Statistics Office (CSO) figures show.

During the same period, imports to Ireland had increased by 39% to €129bn.

As for the medical and pharmaceutical sectors, together they made up the largest Irish exports commodity at 39% and with exports increased by €569m equating to 9% in November.

Fuels imports saw a sharp increase, rising 40% to €1bn in November.

Ireland's largest export market remains with the EU which accounted for €6.6bn (38%) of total goods exports in November. Of this figure, the Netherlands was the largest export market with €1.7bn, followed by Beligum with €1.4bn and Germany accounting for €1.2bn.

More from Irish Examiner on Exports with the UK and to consult in depth findings of  the CSO's 'Goods Exports and Imports November 2022' can be found on their website here.

Published in Ports & Shipping

#RecordSurplus - A hike of 20% in exports to just over €111bn in 2015 boosted by the pharma and medical sectors, drove the trade surplus to a record level, writes The Irish Independent.

Preliminary figures from the Central Statistics Office showed that exports were €18.4bn higher than 2014. 

The figures also showed that the preliminary trade surplus for 2015 was €44bn, which is the largest surplus on record.

To read more click here.

Published in Ports & Shipping

Ferry & Car Ferry News The ferry industry on the Irish Sea, is just like any other sector of the shipping industry, in that it is made up of a myriad of ship operators, owners, managers, charterers all contributing to providing a network of routes carried out by a variety of ships designed for different albeit similar purposes.

All this ferry activity involves conventional ferry tonnage, 'ro-pax', where the vessel's primary design is to carry more freight capacity rather than passengers. This is in some cases though, is in complete variance to the fast ferry craft where they carry many more passengers and charging a premium.

In reporting the ferry scene, we examine the constantly changing trends of this sector, as rival ferry operators are competing in an intensive environment, battling out for market share following the fallout of the economic crisis. All this has consequences some immediately felt, while at times, the effects can be drawn out over time, leading to the expense of others, through reduced competition or takeover or even face complete removal from the marketplace, as witnessed in recent years.

Arising from these challenging times, there are of course winners and losers, as exemplified in the trend to run high-speed ferry craft only during the peak-season summer months and on shorter distance routes. In addition, where fastcraft had once dominated the ferry scene, during the heady days from the mid-90's onwards, they have been replaced by recent newcomers in the form of the 'fast ferry' and with increased levels of luxury, yet seeming to form as a cost-effective alternative.

Irish Sea Ferry Routes

Irrespective of the type of vessel deployed on Irish Sea routes (between 2-9 hours), it is the ferry companies that keep the wheels of industry moving as freight vehicles literally (roll-on and roll-off) ships coupled with motoring tourists and the humble 'foot' passenger transported 363 days a year.

As such the exclusive freight-only operators provide important trading routes between Ireland and the UK, where the freight haulage customer is 'king' to generating year-round revenue to the ferry operator. However, custom built tonnage entering service in recent years has exceeded the level of capacity of the Irish Sea in certain quarters of the freight market.

A prime example of the necessity for trade in which we consumers often expect daily, though arguably question how it reached our shores, is the delivery of just in time perishable products to fill our supermarket shelves.

A visual manifestation of this is the arrival every morning and evening into our main ports, where a combination of ferries, ro-pax vessels and fast-craft all descend at the same time. In essence this a marine version to our road-based rush hour traffic going in and out along the commuter belts.

Across the Celtic Sea, the ferry scene coverage is also about those overnight direct ferry routes from Ireland connecting the north-western French ports in Brittany and Normandy.

Due to the seasonality of these routes to Europe, the ferry scene may be in the majority running between February to November, however by no means does this lessen operator competition.

Noting there have been plans over the years to run a direct Irish –Iberian ferry service, which would open up existing and develop new freight markets. Should a direct service open, it would bring new opportunities also for holidaymakers, where Spain is the most visited country in the EU visited by Irish holidaymakers ... heading for the sun!