IRISH industry supplies close to £500 million worth of goods to the pharmaceutical and chemical sector, but there is still scope for import substitution, a survey to be published today reveals.
The Irish Pharmaceutical and Chemical Manufacturers Federation and Forbairt say in the document that federation members spent a total of £1.041 billion on supplies and services in 1995. Of this, £457 million remained in Ireland, £366 million went to other European Union countries, and £217 million was spent in the rest of the world.
However, while the survey showed a 44 per cent of all supplies coming from domestic firms, the document also shows where Ireland loses out.
Almost half of the total, or £475 million, was spent on fine chemicals; just 15 per cent of these came from Irish-based firms. Close to £50 million was spent on packaging, but only 48 per cent of this was supplied by domestic companies.
The sector is important to the Irish economy, directly employing 18,500 people, and supplying £5 billion, or 18 per cent, in exports, the federation said.
