US and Germany viewed as top destinations for market diversification
Survey highlights preferences of Irish exporters amid Brexit uncertainty
The EU typically accounts for 50 per cent of Irish goods exports, with the UK, Germany and Belgium accounting for the lion’s share. Photograph: Alan Betson
The IEA’s findings were based on a survey on their members and their forthcoming business plans, and reveal a preference for English-speaking countries and for countries located closer to Ireland.
The Government believes market diversification is the best response to the uncertainty of Brexit.
“2018 proved to be a mixed year for Irish exporters amidst the growing political uncertainty about Ireland’s future trading relationship with the UK following Brexit,” IEA chief executive Simon McKeever said.
“With the increasing political turbulence in the UK raising the likelihood of a no-deal Brexit on March 29th, the clock is ticking and the coming three months will be crucial to the continued prosperity of Ireland’s economy,” he said.
“All parties now have to take responsibility to prevent a far-reaching and harmful crash-out Brexit while speedily implementing no-deal contingency measures to prepare for any eventualities,” Mr McKeever added.
The EU typically accounts for 50 per cent of Irish goods exports with the UK, Germany and Belgium accounting for the lion’s share.
The US is the main non-EU destination, accounting for 25-30 per cent of total exports.