Dáil Éireann Debate, Thursday - 23 November 2023
201. Deputy Bernard J. Durkan asked the Minister for Enterprise, Trade and Employment his satisfaction or otherwise with Ireland’s ability to compete with all others for already established or potential export markets; and if he will make a statement on the matter. [51745/23]
View answerEnterprise Ireland, the state agency of the Department of Enterprise Trade and Employment responsible for helping Irish companies to enter and expand in international markets, saw exports by companies it supports increase by 19% to a record €32.1bn in 2022.
This is the highest ever level of growth for Enterprise Ireland-backed companies in export value. Growth occurred across all overseas regions and in individual industry sectors.
Exports to the Eurozone increased by 28% in 2022, with the Eurozone now representing 25% of all exports by Enterprise Ireland backed companies. Expansion in trade with the Eurozone has taken place in tandem with strong Irish exports to the UK post-Brexit.
Exports to the UK increased by 13%, reaching €9.2bn. The UK now accounts for 29% of all exports by Enterprise Ireland backed companies.
Exports to the Eurozone increased by 28%, reaching €7.9bn.
Exports to North America increased by 13%, reaching €5.5bn. North America now accounts for 17% of all exports by Enterprise Ireland backed companies.
Increases in exports were recorded across all sectors with Food and Sustainability increasing by 23%, Technology and Services increasing by 18% and Industrial and Life Sciences increasing by 14%.
The very positive results reported by Enterprise Ireland are a testament to the resilience and vision in the Irish enterprise sector and the Government’s policy to assist Irish business in that vision. Irish business has recently faced numerous challenges, with energy costs, inflation and supply chain disruption impacting the trading environment. However, with a record €32bn in export sales, Irish business has demonstrated its ability to absorb global economic disruption and continue to compete and win in international markets.
Regional growth is a major pillar of my Department’s strategy to support our economy. Enterprise Ireland-backed companies now employ more than 218,000 people in every region and county in Ireland. The record export sales which show a 19% year-on-year increase in export value and increased employment is proof that our enterprise policy is working well.
The Government is determined to continue to assist Irish companies to compete and win in international markets. It is important that Irish businesses are supported as they adapt to a rapidly changing economy, from the challenges posed by digitalisation to the reduction of emissions and the opportunities presented by a low-carbon global economy. Enterprise Ireland does such important work to guide businesses through these challenges and I look forward to continuing to work with them to benefit Irish businesses.
