|Unit||Thousands of Euros, SA|
|Source||Central Statistics Office (CSO)|
|Release||Merchandise trade price indices; Value of merchandise trade|
|Balance of Goods||May 2020||6,669,500||5,654,600||Thousands of Euros, SA||Monthly|
|Exports of Goods||May 2020||12,788,100||11,464,600||Thousands of Euros, SA||Monthly|
|Imports of Goods||May 2020||6,118,600||5,810,000||Thousands of Euros, SA||Monthly|
|Current Account Balance||2020 Q1||-15,208||-28,441||Mil. EUR, NSA||Quarterly|
|Exports of Goods and Services||2020 Q1||114,288||113,307||Mil. EUR, SA||Quarterly|
|Imports of Goods and Services||2020 Q1||-113,570||-113,641||Mil. EUR, SA||Quarterly|
|Net Exports||2020 Q1||718||-334||Mil. EUR, SA||Quarterly|
|Real Exports of Goods and Services||2020 Q1||113,389||113,190||Mil. Ch. 2017 EUR, SA||Quarterly|
|Real Imports of Goods and Services||2020 Q1||-111,069||-112,747||Mil. Ch. 2017 EUR, SA||Quarterly|
|Real Net Exports||2020 Q1||2,320||443||Mil. Ch. 2017 EUR, SA||Quarterly|
For Ireland, external merchandise trade: Level by commodity, level by area, trade price indexes.
The source writes:
The statistics are a combination of Customs-based non-EU trade statistics and estimates from the Intrastat Survey of Irish traders involved in trade with other EU member states.
The Intrastat system has two components. Firstly, the Intrastat survey itself (conducted by the Revenue Commissioners), in which the larger traders make detailed monthly returns giving information on the quantity and value of all exports to or imports from EU countries.
The total number of traders required to make a detailed import return is about 7,700 while about 1,900 must make a detailed export return. The response rate in terms of number of traders in September 2009 was 79%, covering an estimated 96% of the total value of intra-EU trade. For October 2009 the respective response rates being 74% and 92%.
The second component of the Intrastat system is the regular VAT return, on which all traders are required to record the total value of goods imported from and exported to other EU member states. This information provides the basis for determining total EU trade for those traders below the Intrastat survey thresholds. It is also used to maintain the register of EU traders.
The statistics of trade with non-EU countries are compiled mainly from the documents supplied by importers and exporters to the Customs authorities. The document is the Single Administrative Document (SAD) used for Customs clearance purposes. The VIMA Office in Dundalk is the branch of Revenue responsible for editing and validation of the data supplied. The VIMA Office passes the edited data to the External Trade Statistics section of the Central Statistics Office (CSO).
The figures in this release include estimates for traders above the Intrastat thresholds who did not make detailed returns for the period and for traders below the thresholds who did not provide aggregate intra-EU trade figures on their VAT returns.
Estimates for Intrastat non-respondents are apportioned to individual commodities and countries whenever previous Intrastat returns are available. Estimates for traders below the Intrastat thresholds are assigned to partner country where possible, but not to commodity.
The estimate of imports incorporates an upward adjustment equivalent to about 1.75% of total imports, which is included in ‘Unclassified estimates’. This special adjustment arises from the difficulty of comprehensively covering all EU imports through the Intrastat survey system.
The unclassified category also includes certain miscellaneous adjustments.
The monthly price (unit value) index measures monthly price trends relative to the annual levels in the preceding year using value weights relating to that year’s trade (Laspeyres index). The annual index is compiled using value weights for both the current and previous year (Fisher index) to allow for change in the structure of external trade. The monthly index series should be regarded as interim measures suitable for month-to-month comparisons within a given year. However, when the annual price index is compiled, the monthly price indices are rescaled to make their average equal to the annual index.
The source writes:
All figures are estimates. They are subject to revision on the incorporation of late Intrastat and VAT returns and corrections made by traders to Intrastat returns already submitted. When the results for a particular month are published, the results for the seventh preceding month are revised for the last time and may be considered final. However, further revisions are possible in very exceptional cases.