Just 10 companies account for half of Ireland's total manufacturing output
Published 29/07/2016 | 02:30
The top ten industrial firms in Ireland accounted for exactly half of the entire output of the Irish industrial sector last year, according to figures released yesterday by the Central Statistics Office (CSO).
The CSO noted that the manufacturing sector in Ireland was "heavily reliant" on a small number of firms.
It was unable to reveal the identities of the specific companies to the Irish Independent because of Data Protection restrictions.
The largest firms, thought to be multinationals, had an annual Net Selling Value of €58bn in Ireland last year.
Net Selling Value (NSV) measures the number of items manufactured and sold by companies operating in Ireland.
The top 50 manufacturing companies sold a total of €85bn last year, with other manufacturing firms accounting for €29bn.
In total, there was €115bn worth of goods manufactured and sold last year, which represented a rise of 13pc compared to 2014. The NSV of all firms in 2015 rose by 13pc compared to the previous year.
Pharmaceutical production increased by 18pc from €36bn in 2014 to €42bn in 2015.
The importance of the sector for Ireland's economy was underlined by the fact that the industry accounted for 37pc of Ireland's overall NSV, a figure which dwarfs the EU average of 3.5pc.
Chemicals and pharmaceuticals now account for 51pc of the entire output in the Irish manufacturing sector.
The food sector produced €20bn worth of goods last year, accounting for 17pc of output. Meat processing in 2015 rose slightly to €3.8bn while bread and pastries produced a total of €619m. Computers and electronics made up 11pc of industrial output and grew by 37pc over a two-year period covering 2013 to 2015.
The food, chemical and pharmaceutical sectors combined produced €93bn last year, a rise of €13bn on the figure for 2014.
Manufacturing in metals and machinery rose by 30pc from 2013-2015. Mining has declined by 21pc since 2013, while beverage manufacturing also dropped by 7pc.
There was a decline of 4.7pc in textile manufacturing.
The value of cement production showed growth rates of 55pc from €205m in 2014 to €318m 2015.
Transport equipment production accounts for just 0.6pc of all manufacturing in Ireland, which is well below the EU average of 16pc.
The value of construction related products grew considerably in 2015. The value of cement production grew by 55pc from €205m in 2014 to €318m in 2015.
The value of concrete products reported a 17pc increase in NSV, from €238m in 2014 to €281m in 2015.
There was also growth in ready-mixed concrete production, which rose by 12pc over the course of the year.
The figures highlight Ireland's strong manufacturing growth over recent years and underline the importance of global multinationals to the industrial sector.