Dublin Port Company today published February’s trade statistics at Ireland’s largest port which show that trade levels increased for the third successive month compared with the corresponding month in the previous year. Total throughput in February was 6.4% higher in tonnage terms than trade levels in February 2009. Exports grew by 10.7% in the month, year-on-year, while imports grew by 3.7%.
February’s statistics show a third successive monthly increase on the corresponding period in the previous year, and follows a trend where trade levels at Dublin Port started to stabilise in April 2009 following several months of decline. Trade in the final quarter of 2009 was on par with the same period in the previous year.
February 2010 trade & tourism statistics summary:
Unitised trade which accounts for almost 80% of Dublin Port’s throughput was 7.8% higher in total tonnage terms in February 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).
Speaking on the third successive increase in monthly trade levels at Ireland’s principal port, Enda Connellan, Chief Executive of Dublin Port Company, said: “As trade facilitators operating Ireland’s principal port it is encouraging to see continued increases in throughput at Dublin Port. Exports levels were particularly strong recording a 10.7% monthly increase year-on-year. We remain focused on ensuring that Dublin Port Company can play its role in helping to fuel the return to economic growth by keeping Ireland’s main port efficient and competitive. We are continuing to invest in Dublin Port to drive further efficiencies and maintain our low-cost base for our customers so costs to our unitised trade customers, which are 80% of our business, remain 10% lower than over twenty years ago.”
Discussing Dublin Port Company’s outlook for trade levels for the remainder of 2010, Michael Sheary, Chief Financial Officer, Dublin Port Company added: “Improved consumer sentiment for imports, Ireland’s competitiveness, the strength of the euro and renewed growth in the economies of our main trading partners for exporters remain key issues in driving continued increases in trade levels at Dublin Port. 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, which would be only 10% off our historic high of just under 31 million tonnes in 2007.”
Commenting on trade levels, economist Jim Power said: “Trade is particularly important for Ireland’s economy as we are more dependent on trade for growth in GDP than any other European country, with the exception of the Benelux countries. Our return to growth will be dependent on exports so trends in Dublin Port, which accounts for over half of this country’s trade, is an important barometer in assessing economic recovery. While underlying economic challenges clearly remain, it particularly reassuring to see that export levels for February grew by over 10% on the corresponding month in the previous year.”
Date Published: Tuesday 06. of April 2010