Dublin Port Company today published January’s trade statistics at Ireland’s largest port which show that trade levels increased for the second successive month compared with the corresponding month in the previous year. Total throughput in January was 1.4% higher in tonnage terms than trade levels in January 2009. Exports grew by 7.3% in the month, year-on-year, however, there was a reduction in imports of 2%.
The second successive monthly increase on the corresponding period in the previous year follows a trend of stabilising trade levels since April 2009 and a final quarter of 2009 where trade was on par with the same period in the previous year.
January 2010 trade & tourism statistics summary:
Unitised trade which accounts for 78% of Dublin Port’s throughput was 6.4% higher in total tonnage terms in January than the corresponding month in 2009. This trade comprises of consumer goods carried by two modes, Roll-on, Roll-off (RoRo) and Lift-on, Lift-off (LoLo). The Bulk Solid trade, which accounts for 8% of Dublin Port’s throughput, continues to be adversely affected, particularly by continued contraction in construction activity and was down 19.6%.
Speaking on the second successive increase in monthly trade levels at Ireland’s principal port, Enda Connellan, Chief Executive of Dublin Port Company, said: “Given that Ireland is more dependent on trade for growth in GDP than any other European country, with the exception of the Benelux countries, it is encouraging to see that trade levels are beginning to see small increases following strong stabilisation over a number of months. While trade levels have fallen from the record highs of 2007, Dublin Port continues to handle between four to five times the level of trade that it handled almost 20 years ago. The future wellbeing of this country’s economy is dependent on the efficient movement of goods and Dublin Port Company will continue to focus its attentions on operating a modern, efficient port perfectly located at the heart of Ireland’s largest market.”
Discussing Dublin Port Company’s outlook for trade levels for the remainder of 2010, Michael Sheary, Chief Financial Officer, Dublin Port Company added: “Continued increases in throughput are dependent on a number of factors including improved consumer sentiment for imports, the strength of the euro which is a particular issue for exporters and renewed growth in the economies of our main trading partners. Should these factors work in our favour, the uplift in trade could bring our total throughput on an annualised basis close to 28 million tonnes for the second half of the year. Competitiveness too is crucial in helping to facilitate growth in exports. We will continue to play our role driving competitiveness by having eight competing terminals at Dublin Port as well as keeping our own prices to our customers lower than they were 20 years ago.”
Commenting on trade levels, economist Jim Power said: “Activity at Dublin Port is a key barometer of what is happening in the Irish economy as almost half of Ireland’s trade is handled there. It is reassuring, therefore, to see that trade levels are beginning to increase again with two successive months of growth on the corresponding period in the previous year. While underlying economic challenges remain and it is too early to call an end to difficulties, the trend experienced by Dublin Port is encouraging.”
Date Published: Wednesday 24. of February 2010