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Displaying items by tag: Exports Fall

Exports from Ireland in February saw a sharp fall, according to data from the Central Statistics Office (CSO), although it appears that this was a result of a downturn in sales of chemicals and pharmaceuticals rather than the coronavirus.

Those sales account for nearly half of all exports.

Seasonally adjusted exports fell by €2.2bn or 16pc €11.6bn, the CSO said yesterday.

Irish exports to China - which make up a tiny proportion of the overall number - actually rose from a year ago. €1.7bn in January and February of this year compared to €1.15bn in the same period of 2019 were destined for the Asian marketplace.

For more Independent reports of a decline in exports from Dublin Port also click here. 

Published in Ports & Shipping

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.