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Enterprise Ireland companies reach record export levels

But exports by food and sustainability companies backed by the state agency were down by 4pc.

Client companies of Enterprise Ireland exported a record €34.57bn last year, with technology and services, industrial and life sciences showing the highest growth.

The state agency responsible for helping Irish business grow abroad revealed exports figures today (27 June) showing an overall increase of 8pc in non-food exports. Irish food and sustainability exports, though still the biggest contributor, have been impacted by international dairy sales and prices, the agency said.

Technology and services exports were up by 10pc to €8.49bn while industrial and life sciences exports were up by 7pc to €10.38bn last year. Food and sustainability were down by 4pc to €15.7bn.

Irish exports to the UK – Ireland’s largest export market accounting for 29pc of all exports – grew by 6pc to €9.97bn. Meanwhile, the Eurozone (which accounts for a quarter of Irish exports) saw a modest 2pc growth to €8.61bn. Notably, technology and services exports to the Eurozone grew by 19pc.

According to Enterprise Ireland, the largest export markets in the Eurozone are Germany, France and the Netherlands. Exports to Germany increased by 14pc to €2.33bn while exports to France were up 5pc to €1.82bn. However, exports to the Netherlands were down 13pc to €1.75bn.

North America, Ireland’s third-largest export market accounting for nearly a fifth of all exports, saw the figure rise by 5pc to €6.48bn (of which €5.9bn exports were to the US).

Meanwhile, Enterprise Ireland said that its client companies spent €39.3bn in the Irish economy in 2023, including €11.7bn on payroll.

“Across a variety of sectors and international markets, Irish exporters have made significant gains and continue to grow their influence internationally, despite a more challenging international business environment and rising costs,” said Minister for Enterprise, Trade and Employment, Peter Burke, TD.

“Irish exporters are a critical component of the Irish economy, and the government is committed to supporting this sector to scale to further heights in the years ahead.”

Enterprise Ireland CEO Leo Clancy said today’s results reflect “the ambition and tenaciousness of Irish entrepreneur”. He noted that industrial and life sciences exports have surpassed €10bn and he expects technology and services exports to reach that milestone soon too.

“Our mission is to accelerate Ireland’s economy with robust job growth and export gains worldwide. As we focus on business growth and expansion, sustainability, productivity and digitalisation will be high on our agenda.”

Figures on the decrease in food exports come a week after the agency revealed client food and drink companies invested €165m in R&D activities last year, with 123 companies spending €100,000 or more. Food and drinks companies based in Ireland support nearly 60,000 jobs.

 

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