According to the Irish Independent on May 15, data recently released by the Central Statistics Office of Ireland shows that Ireland's exports in March 2014 fell by 4% month-on-month to 6.9 billion euros, while imports rose by 12% month-on-month to 4.5 billion euros. The trade surplus reached 2.4 billion euros, hitting a new low since March 2008. The main reason for the decline in exports was a 16% drop in the export of organic chemical materials and a 10% drop in pharmaceuticals. Ireland's main export markets remain the European Union and the United States, accounting for 56% and 24% of total exports, respectively. The main source of Ireland's imports is the European Union, accounting for 62% of total imports, with the United Kingdom accounting for 29%. Non-EU countries are mainly the United States and Switzerland.
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