asked the Minister for Finance if he will make a statement on the latest balance of trade figures.
Ceisteanna—Questions. Oral Answers. - Balance of Trade Figures.
13.
The latest trade figures relate to December 1984. In line with the favourable trend during 1984 they show a trade surplus of £99 million. The cumulative trade deficit for 1984 was less than £10 million which compares with a deficit of £420 million in 1983.
The most encouraging feature of this improvement is that it has been achieved at increased levels of both exports and imports compared with 1983. The value of exports in 1984 was over 28 per cent higher than in 1983. Although there was a heavy demand for imported goods for industrial use associated with the rapid growth of industrial exports and the recovery in industrial output, the overall rise in imports, at 21 per cent, was markedly lower than the rise in exports.
The continuing buoyancy of exports and the consequent narrowing of the trade gap are welcome developments and are in line with the view expressed in the national plan that the projected improvement in the external account would be achieved through increased exports.