Friday, December 16, 2011

16/12/2011: Ireland-Russia bilateral trade, September 2011

Based on yesterday's data for external trade, let's update Irish bilateral trade in goods data with Russia.

Irish exports to Russia totalled €46.9 million in September, up 61.2% yoy, against Irish imports from Russia of €7.8 million, up 14.7% yoy.


Irish trade surplus with Russia stood at €39.1 mln in September, up 75.3% yoy.



Revising annual forecast, I now expect Irish exports to Russia to reach €520 million in 2011, against €373 million in 2010, while Irish imports from Russia to settle at €125 million, down from €159.7 million in 2010. The resulting annual trade surplus will be around €398 million or more than the combined trade deficits in Irish trade with China and India in 2010.

January-through-September period trade surplus data for various non-EU countries expressed in millions of euros are detailed in the table below:

So in terms of trade surplus, Russia was Ireland's 5th most important trading partner.

2 comments:

Anonymous said...

does that not say more about russia exports to ireland than irelands exports to russia?

TrueEconomics said...

@Anonymous - I am not sure I understand your comment. It says much about bilateral trade. I am focusing on Irish side of trade flows. Russia's exports to Ireland are small - for a number of reasons related to market structure etc. Irish exports to Russia are by far non-negligible.