Friday 30 September 2016

Asia nations tipped to be key areas for Irish exports

Published 28/05/2015 | 02:30

Robust growth in the US and UK, along with a weaker euro, should help sustain strong export growth in the coming years
Robust growth in the US and UK, along with a weaker euro, should help sustain strong export growth in the coming years

China, Vietnam, India and Malaysia are among the countries forecast to be the fastest-growing markets for Irish exports in the decade up to 2030.

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HSBC is predicting 6pc annual growth in the value of Irish trade over the period from 2021 to 2030.

Robust growth in the US and UK, along with a weaker euro, should help sustain strong export growth in the coming years, the global bank said.

Alan Duffy, HSBC Ireland chief executive, said the outlook for the Irish trade sector is bright in both the short and long term.

"We are absolutely right to look further overseas, with exports to China, for example, expected to grow by 11pc per annum in the decade to 2030.

"However, China will not displace the UK or the US as Ireland's most important export market and we mustn't lose sight of the importance of our traditional trading partners," Mr Duffy added.

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