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<br /> <br /> EXTERNAL TRADE<br /> <br /> Merchandise trade, in 2008, slowed considerably in line<br /> with the deterioration in economic conditions both<br /> nationally and globally. In 2008 the value of merchandise<br /> exports fell 2 per cent from €88.5bn to €86.6bn. The value<br /> of merchandise imports declined dramatically in 2008, from<br /> €62bn in 2007 to €56bn in 2008, a drop of 8 per cent. In<br /> the final quarter of 2008 the value of merchandise imports<br /> declined by 22 per cent. As a result of the contraction of<br /> merchandise imports and based on preliminary estimates for<br /> December, Ireland's trade surplus increased by 12 per cent<br /> last year. 40 per cent of merchandise exports are made up of<br /> organic chemicals and medical & pharmaceutical products.<br /> Up to November 2008 organic chemicals had declined<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 1" href="http://viewer.zmags.com/publication/7abfba6c?page=1"> The Irish Maritime Transport EconomistVOLUME 6</a> The Irish Maritime Transport EconomistVOLUME 6<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 2" href="http://viewer.zmags.com/publication/7abfba6c?page=2">The Irish Maritime Development OfficeThe Irish </a> The Irish Maritime Development OfficeThe Irish <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 3" href="http://viewer.zmags.com/publication/7abfba6c?page=3">VOLUME 6April, 2009ISSN 1649-5225The Irish M</a> VOLUME 6April, 2009ISSN 1649-5225The Irish M<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 4" href="http://viewer.zmags.com/publication/7abfba6c?page=4">ContentsForeword </a> ContentsForeword <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 5" href="http://viewer.zmags.com/publication/7abfba6c?page=5">Noel Ahern T.D.MINISTER OF STATE AT THE DEPARTME</a> Noel Ahern T.D.MINISTER OF STATE AT THE DEPARTME<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 6" href="http://viewer.zmags.com/publication/7abfba6c?page=6">page 4Key Indicators:GDP: -1.3%GNP: -1.6%Inf</a> page 4Key Indicators:GDP: -1.3%GNP: -1.6%Inf<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 7" href="http://viewer.zmags.com/publication/7abfba6c?page=7"> Key Indicators: Bulk Traff</a> Key Indicators: Bulk Traff<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 8" href="http://viewer.zmags.com/publication/7abfba6c?page=8"></a> <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 9" href="http://viewer.zmags.com/publication/7abfba6c?page=9">Economic Review</a> Economic Review<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 10" href="http://viewer.zmags.com/publication/7abfba6c?page=10">NATIONAL ACCOUNTSThe Irish economy averaged an</a> NATIONAL ACCOUNTSThe Irish economy averaged an<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 11" href="http://viewer.zmags.com/publication/7abfba6c?page=11">INFLATIONConsumer inflation in Ireland, measure</a> INFLATIONConsumer inflation in Ireland, measure<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 12" href="http://viewer.zmags.com/publication/7abfba6c?page=12">INTEREST RATESThe turmoil in international fin</a> INTEREST RATESThe turmoil in international fin<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 13" href="http://viewer.zmags.com/publication/7abfba6c?page=13">EXCHANGE RATESAs in 2007, the Euro continu</a> EXCHANGE RATESAs in 2007, the Euro continu<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 14" href="http://viewer.zmags.com/publication/7abfba6c?page=14">OIL & BUNKER PRICESThe volatility in oil price</a> OIL & BUNKER PRICESThe volatility in oil price<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 15" href="http://viewer.zmags.com/publication/7abfba6c?page=15">Trade Review</a> Trade Review<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 16" href="http://viewer.zmags.com/publication/7abfba6c?page=16">EXTERNAL TRADEMerchandise trade, in 2008, slow</a> EXTERNAL TRADEMerchandise trade, in 2008, slow<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 17" href="http://viewer.zmags.com/publication/7abfba6c?page=17">COMMODITY TRADELast year the outlook for 2008 w</a> COMMODITY TRADELast year the outlook for 2008 w<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 18" href="http://viewer.zmags.com/publication/7abfba6c?page=18">TRADE COUNTRYThe United Kingdom, United States</a> TRADE COUNTRYThe United Kingdom, United States<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 19" href="http://viewer.zmags.com/publication/7abfba6c?page=19">Traffic Review</a> Traffic Review<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 20" href="http://viewer.zmags.com/publication/7abfba6c?page=20">IRISH PORTS BULK MARKETSIrish ports had an ext</a> IRISH PORTS BULK MARKETSIrish ports had an ext<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 21" href="http://viewer.zmags.com/publication/7abfba6c?page=21">IRISH PORTS BULK MARKETSDRY BULK: This market, </a> IRISH PORTS BULK MARKETSDRY BULK: This market, <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 22" href="http://viewer.zmags.com/publication/7abfba6c?page=22">LOAD-ON/LOAD-OFF MARKETThe prevailing economic</a> LOAD-ON/LOAD-OFF MARKETThe prevailing economic<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 23" href="http://viewer.zmags.com/publication/7abfba6c?page=23">LO/LO MARKET – OPERATORSBoth the shortsea an</a> LO/LO MARKET – OPERATORSBoth the shortsea an<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 24" href="http://viewer.zmags.com/publication/7abfba6c?page=24">RO/RO PORTSIrish roll-on/roll-off (ro/ro) traf</a> RO/RO PORTSIrish roll-on/roll-off (ro/ro) traf<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 25" href="http://viewer.zmags.com/publication/7abfba6c?page=25">IRISH RO/RO MARKET-OPERATORIn 2008 ro/ro freigh</a> IRISH RO/RO MARKET-OPERATORIn 2008 ro/ro freigh<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 26" href="http://viewer.zmags.com/publication/7abfba6c?page=26">IRISH RO/RO MARKET-OPERATORThere are 4 ro/r</a> IRISH RO/RO MARKET-OPERATORThere are 4 ro/r<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 27" href="http://viewer.zmags.com/publication/7abfba6c?page=27">PASSENGER TRAFFICFerry passenger numbers declin</a> PASSENGER TRAFFICFerry passenger numbers declin<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 28" href="http://viewer.zmags.com/publication/7abfba6c?page=28"></a> <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 29" href="http://viewer.zmags.com/publication/7abfba6c?page=29">Market Review</a> Market Review<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 30" href="http://viewer.zmags.com/publication/7abfba6c?page=30">TANKER MARKETGlobal oil consumption contracted</a> TANKER MARKETGlobal oil consumption contracted<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 31" href="http://viewer.zmags.com/publication/7abfba6c?page=31">DRY BULK MARKET2008 was a topsy-turvy year for </a> DRY BULK MARKET2008 was a topsy-turvy year for <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 32" href="http://viewer.zmags.com/publication/7abfba6c?page=32">CONTAINERSHIP MARKETContainership charter ra</a> CONTAINERSHIP MARKETContainership charter ra<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 33" href="http://viewer.zmags.com/publication/7abfba6c?page=33">DEEPSEA CONTAINER TRADES & FREIGHT RATESFollowi</a> DEEPSEA CONTAINER TRADES & FREIGHT RATESFollowi<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 34" href="http://viewer.zmags.com/publication/7abfba6c?page=34">NEWBUILDING MARKETCONTAINER FLEET: Over the pa</a> NEWBUILDING MARKETCONTAINER FLEET: Over the pa<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 35" href="http://viewer.zmags.com/publication/7abfba6c?page=35"> Glossary of Terms page 33GDP – Gr</a> Glossary of Terms page 33GDP – Gr<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 36" href="http://viewer.zmags.com/publication/7abfba6c?page=36"> page 34 Sources of DataThe bulletin contain</a> page 34 Sources of DataThe bulletin contain<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 37" href="http://viewer.zmags.com/publication/7abfba6c?page=37">J_`gg`e^CXn>iflgÈ<oZ\cc\ekÔid%@]Xj`d`cXihlXc</a> J_`gg`e^CXn>iflgÈ<oZ\cc\ekÔid%@]Xj`d`cXihlXc<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 38" href="http://viewer.zmags.com/publication/7abfba6c?page=38"></a> <a title="The 2009 Irish Maritime Transport Economist Volume 6 page 39" href="http://viewer.zmags.com/publication/7abfba6c?page=39">design by drawinginckindly sponsored by:</a> design by drawinginckindly sponsored by:<a title="The 2009 Irish Maritime Transport Economist Volume 6 page 40" href="http://viewer.zmags.com/publication/7abfba6c?page=40">www.imdo.ieIrish Maritime Development Offic</a> www.imdo.ieIrish Maritime Development Offic