Exports by firms linked to Enterprise Ireland pass €20bn mark in 2015

The export figure is now almost double what it was in 2005

 

Exports by Enterprise Ireland companies surpassed the €20 billion mark for the first time.

Enterprise Ireland companies saw an increase of 10 per cent in exports in 2015, compared with 2014, amounting to an all-time high of €20.6 billion.

The export figure is now almost double what it was 10 years ago - when exports were €10.73 billion in 2005.

Significant growth was recorded in exports across all sectors and in the majority of export territories according to the official figures published by Enterprise Ireland on Monday.

The results also show that exports have increased across most territories with exports to the USA and Canada increasing by 27 per cent to almost €3 billion; exports to the UK increasing by 12 per cent to €7.5 billion and exports to Northern Europe increasing by 8 per cent to €4.2 billion.

Enterprise Ireland chief executive Julie Sinnamon said the 2015 export figure demonstrates the scale of the success that Irish companies are seeing in terms of winning business at record levels internationally.

“ Significantly, growth was recorded across all sectors and we are seeing that diversification into high growth markets is a focus for our clients,” she 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 per cent in 2005 to 37 per cent 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,” said Ms Sinnamon.

“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. 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,” said Ms Sinnamon.

Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor said the figures announced today show the strength and capabilities of Irish companies competing at a global level.

A key aspect of Enterprise Ireland’s strategy was the co-ordination of trade missions to high growth economies including China, Africa and the Middle East.

This was backed up by a wide range of inward buyer visits, market study visits, international trade fairs, Embassy events and knowledge seminars, all aimed at linking Irish companies with international buyers, leading to increased exports and jobs for Ireland.

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

Looking ahead, Enterprise Ireland said that it plans to achieve €22 billion in exports in 2016, but that risks remained on the horizon due to wider economic factors.