DAVY VIEW

Irish trade data released yesterday (August 16th) showed nominal goods exports of €14.4bn in June, up 5.8% on the year. This is an improvement following goods exports of €80.7bn in H1 2021, down 1.7% on the same period of 2020 but entirely reflecting volatile pharmaceuticals. Core goods exports were up 8.7% year-on-year (yoy) in June. The underlying story is that the global rebound in manufacturing output is being felt among Ireland’s indigenous exporting firms.