Exports by Enterprise Ireland firms surpass €20bn for the first time

20 Jun 201641 Shares

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Exports by Irish firms were double the amount of exports in 2005

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Enterprise Ireland companies have reported a 10pc increase in exports for 2015, leading to an all-time high of €20.6bn and double the amount of exports of 2005.

The export agency reported that internationally-traded software companies saw exports rise 32pc to €1.8bn.

There was a 21pc increase in exports by construction and consumer companies to €2.8bn and an 11pc increase in exports by manufacturing companies to €3.4bn.

Food companies saw a 3pc rise in exports to reach €10.6bn.

Exports to the US and Canada rose by 27pc to almost €3bn.

Proving the UK is still Ireland’s largest trading partner, exports to the UK increased 12pc to €7.5bn.

‘There are a number of risks to the continued growth in exports and the uncertainty associated with the UK referendum has already had an impact on clients exporting to the UK’
– JULIE SINNAMON, ENTERPRISE IRELAND

Exports to northern Europe increased by 8pc to €4.2bn.

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

Risks on the horizon include Brexit

Enterprise_Ireland_exports_2016

All indications are that Ireland is likely to achieve its €22bn export target in 2016.

However, the CEO of Enterprise Ireland, Julie Sinnamon, warned that there are risks on the horizon.

“There are a number of risks to the continued growth in exports and the uncertainty associated with the UK referendum has already had an impact on clients exporting to the UK,” Sinnamon said.

“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.”

Exports image via Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com