Dáil Éireann Debate, Thursday - 29 June 2023
219. Deputy Bernard J. Durkan asked the Minister for Enterprise, Trade and Employment the extent to which Irish-manufactured products continue to compete on world markets; and if he will make a statement on the matter. [31951/23]
View answerMy Department’s White Paper on Enterprise to 2030 sets out an ambitious vision for Ireland’s enterprise policy, to protect Ireland’s strong economic position, and respond to challenges and opportunities that have emerged because of the pandemic, wider economic and geo-political developments, digitalisation, and an increased urgency to decarbonise industry. It provides for a sustainable, innovative and high-productivity economy, with rewarding jobs and livelihoods in the period ahead.
Irish-manufactured products continue to compete very well on world markets. With continued funding and assistance from my Department and, despite the challenges of the pandemic, inflation, the illegal war in Ukraine, and global supply chain disruption, 2022 was a record year for Irish-owned business in terms of international sales. Companies supported by Enterprise Ireland (EI) achieved export sales of €32.1 billion, an increase of 19% on the previous year, and growth occurred across all overseas regions and in individual industry sectors. Exports to the UK increased by 13% and the Eurozone increased by 28%. The Eurozone now accounts for 25% of all exports by EI client companies to a value of €7.9 billion.
In the UK, which is and will remain EI clients’ largest market, exports increased to €9.2 billion or 29% of total exports despite the continued challenges of volatility and uncertainty. The North American Market remained strong during the year with a growth rate of 13% of exports and now accounts for €5.5 billion or 17% of total exports. Food and Sustainability, Technology and Services, and Industrial and Lifesciences were the fastest growing sectors, increasing by 22% to €16.258 billion, 18% to €7.397 billion and 14% to €8.525 billion respectively.
Total sales by companies supported by EI (domestic and export sales) totalled €62.4 billion, with total spend in the Irish economy by EI backed companies exceeding €30 billion.
These are significant exports results and reflect the incredible innovation and ambition of the Irish enterprise sector. While the record 19% year-on-year increase in exports is influenced by inflation in certain sectors, most notably in the dairy industry, the results demonstrate the continued strength of Irish products and services in international markets. This is due to Ireland’s hard-won reputation for quality, service and innovation.
