Vol. 470 No. 3
61 Mrs. Geoghegan-Quinn asked the Minister for Tourism and Trade if he has satisfied himself that competition for Irish exporters in the international market is satisfactory having regard to the difficulties experienced from currency appreciation, wage costs, payroll related taxes and other costs, including telecommunications, insurance and energy; and if he will make a statement on the matter. [18719/96]
Although statutory responsibility for the specific areas mentioned in the question rests with other ministerial colleagues, I can assure the Deputy that the Government continues to take full cognisance in its policies of the importance of maintaining competitiveness in our export markets. Pursuit of policies which have led, for example, to low inflation, moderate wage developments under the Programme for Competitiveness and Work, interest rates close to historically low levels and unprecedented levels of investment in infrastructural developments, have all served to considerably enhance the competitiveness of Ireland as an exporting base.
State agency support for innovation programmes, training, product development and marketing also helps to strengthen the competitive position of individual firms and their ability to respond to change in the marketplace. As a result, exports constitute an increasing share of the economy's total output, going up from 60 per cent of GDP in 1985 to an expected 81 per cent in 1996. In 1995, the value of exports grew by 20 per cent to £27 billion and our trade surplus climbed to £7 billion, which, in relative terms is the highest in the OECD. This spectacular growth has been achieved in the face of ever increasing competition and despite the fact that economic growth in some of our main markets was sluggish.
