Friday 21 September 2018

Food leads the way in record year for Enterprise Ireland exports

Photographer: Chris Ratcliffe/Bloomberg
Photographer: Chris Ratcliffe/Bloomberg
Ellie Donnelly

Ellie Donnelly

Food exports by Enterprise Ireland clients increased by 10pc last year to €11.6bn.

In what was a record year for exports from Enterprise Ireland clients, total export sales recorded in 2017 topped €22.7bn, a 7pc increase on 2016.

Overall and total sales achieved by Enterprise Ireland clients in 2017 was €44.4bn, an 8pc increase year-on-year.

The UK remains the strongest export market for Enterprise Ireland supported firms, representing 34pc of exports last year, and delivering a growth of 4pc to €7.62bn.

Julie Sinnamon, CEO Enterprise Ireland
Julie Sinnamon, CEO Enterprise Ireland

During the period there was a 23pc increase in the number of new contracts secured in the UK by Enterprise Ireland backed firms.

Commenting on the significance of the market, Julie Sinnamon, chief executive of Enterprise Ireland, said that the UK market had been hard won, and that it was not a market the Stage Agency and its clients were walking away from.

Ms Sinnamon went on to say that Enterprise Ireland was working closely with UK dependent clients to help them trade through the unpredictability that Brexit will bring.

Exports to the Eurozone, which accounts for a fifth of all exports by Enterprise Ireland firms, saw strong growth of 9pc to €4.6bn.

During the year, a total of 89 Enterprise Ireland companies exported to the Eurozone for the first time.

Exports to the US and Canada also increased, up 7pc year-on-year to €3.96bn.

The US-Canada market now accounts for 17pc of exports from Enterprise Ireland supported companies.

Meanwhile, exports to the Asia Pacific market were up 9pc year-on-year to €1.97bn, or 9pc of exports by Enterprise Ireland companies.

Welcoming the report from Enterprise Ireland, Minister for Business Heather Humpherys T.D., said that the figures reflected "the robustness and success of Irish companies across the globe, who are availing of State supports to be competitive, innovative and market diversified."

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