3% rise in exports by food companies to €10.6bn: Enterprise Ireland 

Increase in exports in all sectors, with software, construction and manufacturing recording the greatest increases

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22 June 2016 | 0

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Export agency, Enterprise Ireland companies saw an increase of 10% in exports in 2015, compared with 2014, amounting to an all-time high of €20.6bn. The export figure is now almost double what it was 10 years ago (€10.73bn in 2005).

Significant growth was recorded in exports across all sectors and in the majority of export territories according to the Enterprise Ireland’s figures. Food companies’ exports increased by 3% to €10.6bn, while manufacturing companies’ exports rose by 11% to €3.4bn. Meanwhile, exports for internationally traded software companies rose by 32% to €1.8bn and exports in construction and consumer companies increased by 21% to €2.8bn.

The results also reveal exports have increased across most territories with exports to the USA and Canada increasing by 27% to almost €3bn; exports to the UK increasing by 12% to €7.5bn, and exports to Northern Europe increasing by 8% to €4.2bn.

Julie Sinnamon, CEO of Enterprise Ireland said: “The UK remains our largest export market, but we are seeing a trend whereby the exports to the UK as a proportion of our total client exports has declined from 45% in 2005 to 37% in 2015, as more companies have diversified their export strategies into Northern Europe, the USA and high growth markets including China, India, the Gulf and Brazil.”

 

Enterprise Ireland clients also recorded a spend of €23.7bn in the domestic market, representing an increase of €3.4bn since 2013.

Looking ahead, Enterprise Ireland said that it has ambitious targets, as set out in its Strategy 2014-2016, to achieve €22bn in exports in 2016, but that risks remained on the horizon due to wider economic factors.

These include “the uncertainty associated with the UK referendum [which] has already had an impact on clients exporting to the UK,” according to Sinnamon. “We are hopeful that the UK will remain within Europe, but we will continue to work on our strategy over recent years of supporting our clients to diversify into new markets. Significantly, over the period 2005 to 2015, exports to Eurozone countries have increased by €1.92bn from €2.21bn to €4.13bn,” she added.

 

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