UK (commonwealth) _ Enterprise Ireland’s clientele shipped a record €34.57 billion in 2023, with 8% growth in non-food exports.
Compared to industrial and life sciences exports, which increased by 7% to €10.38 billion, technology and services exports increased by 10% to €8.49 billion. With the global dairy market’s declining sales and pricing, food and sustainability exports fell by 4% to €15.69 billion.
UK exports, which make up 29% of total exports and are the largest export market, increased by 6% to €9.97 billion. UK food exports increased by 7% to €4.76 billion, industrial and life sciences exports increased by 3% to €3.25 billion, and technology and services exports increased by 8% to €1.96 billion.
Up 2% to €8.61 billion, the Eurozone—which accounts for 25% of all exports—became the second-biggest export market in 2023. Exports of food and sustainability fell by 6% to €4.28 billion, while those of industrial and life sciences increased by +9% to €2.86 billion and those of technology and services by 19% to €1.47 billion.
Within the Eurozone, the three primary markets were: Germany had a 14% rise in exports to €2.33 billion. France, whose exports rose to €1.82 billion, a 5% increase the Netherlands, whose exports fell by 13% to €1.75 billion
North America accounted for 19% of the share of exports, making it the third largest export market. The country’s exports increased by 5% to €6.48 billion, of which €5.9 billion went to the US. Industrial & lifesciences (+7%, €2.22bn) and technology and services (+8%, €2.95bn) saw the biggest growth. Exports other than food increased by 7% overall.
The agency also stated that by the end of 2024, enterprises with revenues between €10 million and €50 million had increased their exports by 10%, a year ahead of schedule. According to the research, by the end of 2023, businesses in these sales groups have boosted their exports by over 20%.
The CEO of Enterprise Ireland, Leo Clancy, stated that the findings demonstrated the “ambition and tenaciousness” of Irish businesses and entrepreneurs, who are expanding their footprint abroad at a “accelerated pace”. “The 6% increase in exports validates the Irish exporters’ continued commitment to investing in the UK, our biggest trade partner.
“Food exports to the area decreased by 6%, which is partly responsible for the Eurozone’s more moderate 2% growth. Exporters in the technology, industrial, and life sciences sectors are still doing well in North America, especially the USA, he added. These sectors’ total exports have increased by 8% to €5.17 billion.
€11.7 billion of the €39.3 billion that Enterprise Ireland’s client firms allegedly spent in the Irish economy in 2023 went toward payroll. Clancy stated that he believes the high “calibre of Irish software being produced” would enable technology and foreign services exports to reach the €10 billion mark.
“Our goal is to boost Ireland’s economy through strong job creation and global export gains,” he went on. As we prioritize corporate expansion and growth, there will be a high level of sustainability, productivity, and digitalization.
Despite a more difficult international business environment and growing costs, Irish exporters have made significant gains and are continuing to expand their influence internationally, according to Minister for Enterprise, Trade, and Employment Peter Burke.
The government is dedicated to helping Irish exporters reach new heights in the coming years, since they constitute an essential part of the country’s economy.
Ireland’s development continues to be mostly driven by exports. Exports reached a record-breaking EUR 122 billion in 2017. The majority of the nation’s exports were chemicals and allied goods (making up 55% of total exports), followed by pharmaceutical and medical goods (29%), organic chemicals (16%), essential oils, perfume ingredients, and toilet and cleaning supplies (6%).
Other items include: miscellaneous manufactured commodities (12 percent); food and live animals (9 percent); machinery and transport equipment (17 percent), of which electrical machinery, apparatus, appliances, and components (5 percent); and other transport equipment, including airplanes (5 percent). The United States accounted for 27% of overall exports, followed by the United Kingdom (13%), Belgium (11%), Germany (8%), the Netherlands and Switzerland (5% each), France (4%) and China (4%).
April 2024 saw a 25.3% year-over-year increase in Irish exports to €19.01 billion, driven mostly by strong sales of organic chemicals (+32.3%) and machinery & transport equipment (+22.8%). The US (+57.4%) and the EU (+16.6%) had the most growth in sales.
Tags: exports, industrial clie Other items include: miscellaneous manufactured commodities (12 percent); food and live animals (9 percent); machinery and transport equipment (17 percent), of which electrical machinery, apparatus, appliances, and components (5 percent); and other transport equipment, including airplanes (5 percent). The United States accounted for 27% of overall exports, followed by the United Kingdom (13%), Belgium (11%), Germany (8%), the Netherlands and Switzerland (5% each), France (4%) and China (4%).
April 2024 saw a 25.3% year-over-year increase in Irish exports to €19.01 billion, driven mostly by strong sales of organic chemicals (+32.3%) and machinery & transport equipment (+22.8%). The US (+57.4%) and the EU (+16.6%) had the most growth in sales.
