Pharmaceuticals and chemicals account for 45% of product sales

New figures from Central Statistics Office underscore importance of sectors to Irish economy.

Fri, Jul 18, 2014, 13:38

Nearly 45 per cent of Irish product sales last year, equating to just over €40 billion, were classified as chemical or pharmaceutical, underlining the importance of the sectors to the Irish economy.

Figures from the Central Statistics Office released today show the value of products manufactured and sold by Irish industrial enterprises in 2013 was up 4.6 per cent on 2012 levels to €89.9 billion.

The rise was linked to the values of basic pharmaceutical products and preparations, which increased 7.2 per cent from €27.1 billion in 2012 to €29 billion in 2013.

The figures are part of the CSO’s 2013 Prodcom survey, which is the EU’s standard classification of production statistics.

They showed food products also reported a yearly increase of 6.7 per cent from €17.7 billion in 2012 to €18.9 billion last year.

The value of computer, electronic, optical and electrical equipment, however, declined by 8.8 per cent from €10.6 billion in 2012 to €9.6 billion last year.

The figures indicated that when combined pharmaceutical and chemical-related products accounted for 44.6 per cent or €40.1 billion last year.