Exporters expect zero growth in 2003

Irish exporters lost market share in five of their top 10 markets in 2002, the Irish Exporters Association has said.

Exporters expect zero growth "at best" this year unless there is widespread economic improvement. "Losing market share in five of our top 10 export markets is indicative of how difficult international trading has been in 2002," Mr John Whelan, chief executive of the Irish Exporters Association, said at the publication of the association's year end statement.

He said exporters had failed to "crack" the European market despite the introduction of the euro. The stable currency regime had been introduced at the same time as the Irish cost base eroded competitive advantage.

"A new international trade policy is required from the Government. Otherwise exporters in many sectors will find it difficult to continue to trade out of Ireland."

The main advantage arising from the euro had been the exchange rate between the euro and sterling and the euro and the US dollar. This enabled exports to the UK to grow by 6 per cent, and exports to the US to grow by 7 per cent.

Overall the estimate for 2002 for "visible exports", i.e. not including services, was €94.3 billion, up 1.9 per cent on 2001. This compared with a growth rate of 10.4 per cent in 2001, and 19.3 per cent in 2000.