Phil Hogan
Question:20 Mr. Hogan asked the Minister for Tourism and Trade his views on the central forecast in the ESRI report that our trade figures will deteriorate by 1 per cent by 1995.
Written Answers. - Trade Figures.
I am not sure what the Deputy means when he refers to a deterioration of 1 per cent in our trade figures in 1995.
The ESRI medium-term review points to the growth in international trade which is expected to result from the GATT which I signed in April on behalf of the Government. The review also refers to the positive implications of the expected upturn in the economics of our most important export markets.
In relation to Irish trade the review explicitly states: "We expect quite rapid growth in the volume of exports over the next 3 years."
It further forecasts a 5 per cent per annum average growth in the volume of exports between 1995-2000. The ESRI also predicts an increase in imports which it ascribes to increased consumer demand and increased investment. However, the balance of trade is expected to remain positive in the period under review.