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Strong export performance continuing with 10% increase in August – Bruton

Jobs Minister Richard Bruton welcomed this morning’s publication of the latest external trade figures by the CSO, which show that:

· Exports in August were up 10% on July, according to seasonally adjusted figures

· Ireland’s trade surplus was up 15% compared with July, to €3.7billion

· Exports in August 2011 were up 5% compared with August 2010, according to unadjusted figures

Minister Bruton said:

If we are to see the recovery we are all working so hard to achieve, a strong export performance will be crucial. Today’s figures, which indicate that the strong performance in exports over recent months is continuing, show that an export-led recovery is a real possibility. They are particularly welcome after a period of mixed news about the global economy into which we export.

These figures follow last week’s Eurostat figures showing that Ireland has the third largest trade surplus in the EU, after Germany and the Netherlands.

However any signs of recovery are fragile, and we have a long way to go. I am determined to keep driving change to improve competitiveness, increase access to finance, and encourage innovation so that our exports can lead a sustainable recovery across the economy.