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Surge in value of Irish exports

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THE value of Irish exports rose by 3pc in February when compared with the same month last year, official figures show. One of the main reasons for the positive data was a 15pc increase in the value of exports of food and live animals. There was also a 1pc increase in exports between January and February of this year.

Ireland’s export sector suffered last year due to the impact of the so-called pharmaceutical patent cliff – a fall-off in the value of pharmaceutical sales as some drugs made in Ireland lose intellectual property protection.

The value of imports also rose by 3pc between February this year and last.