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.


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.