Tuesday, July 19, 2011

19/07/2011: Ireland-Russia Bilateral Trade - April 2011

Updating our trade statistics for Russia for April 2011:
  • In April 2011, Irish exports to Russia stood at €51.5 million, up from €40.6 million in March and up on €35.8 million a year ago
  • Irish imports from Russia in April 2011 were €15 million, flat on March 2011 and down from €18.8 million in April 2010
  • Irish trade balance with Russia in April 2011 stood at €36.5 million - the highest trade balance achieved in bilateral trade with Russia in any month since January 2009

Using data for the first 4 months of 2011, we can update (still very crude) forecast for annual bilateral trade:
One way or the other, the data suggests we are on track to post another record trade year and record trade surplus year in 2011.

Some more stats. For the first 4 months of the year, 2011 trade surplus with Russia amounted to €113.8 million, which was the 5th highest trade surplus for Irish trade with the countries other than EU 27 and US. Only Australia (€202.5 million), Japan (€251.9 million), Saudi Arabia (€179.3 million) and Switzerland (€1,032 million) yielded stronger trade surplus for Ireland than Russia in absolute terms. The trade surplus for the first 4 months of 2011 rose substantially - by 252.32% or €81.5 million compared to the same period of 2010.

In comparison with Ireland's trade surplus with Russia of €113.8 million in January-April 2011, Ireland recorded:
  • A trade surplus of €30.6 million with Brazil,
  • A trade surplus of €108.6 million with Canada,
  • A trade deficit of -€61.7 million with China,
  • A trade deficit of -€71.8 million with India,
  • A trade surplus of €98.5 million with Mexico,
  • A trade deficit of €343 million with Norway,
  • A trade surplus of €74.7 million with Turkey
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