Dáil Éireann Debate, Tuesday - 23 January 2024
248. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment for an update in relation to his Department's efforts to stimulate more exporting and internationalisation in the SME population, including broadening export markets beyond the British market; and if he will make a statement on the matter. [2816/24]
View answer249. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment for an update on the percentage of Irish SMEs currently exporting and the domestic value added in Irish exports from SMEs; and if he will make a statement on the matter. [2817/24]
View answer258. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment the current percentage of Irish SMEs who export; whether exporting by SMEs has increased, decreased, or remained the static since this Government came to office; if his Department has a target to increase SME exporting; if so, the target; and the timeframe for same. [2837/24]
View answerI propose to take Questions Nos. 248, 249 and 258 together.
To achieve sustainable, diversified growth, and enhanced economic resilience, it is vital that the Irish-owned enterprise sector fulfils its potential to scale and succeed on global markets.
The White Paper on Enterprise sets out an ambition for 2,000 additional Irish-owned exporters by 2030. To help achieve this ambition, Enterprise Ireland has a strategic priority of fostering an environment that nurtures entrepreneurship, supports the sustainable growth of Irish-owned firms and increases and diversifies Irish exports. In addition, the Local Enterprise Offices are working to help smaller prospective exporters to develop the required capacities.
Enterprise Ireland supports to exporting SMEs include direct financial assistance through grants, loans, and equity investments; Market Research and export development assistance; funding and mentoring for Innovation and Research; and facilitating international trade missions and market access opportunities.
Enterprise policy is supporting Irish companies in their growth into international markets by addressing barriers in access to finance and building stronger pipelines for company development through consistent agency support measures.
Irish-manufactured products continue to compete very well on world markets. The most recent figures illustrate that 2022 was a record year for Irish-owned business in terms of international sales. Companies supported by 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 with a value of €7.9 billion.
In the UK, which remains 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 Life sciences were the fastest growing sectors, increasing by 22% to €16.258 billion, 18% to €7.397 billion and 14% to €8.525 billion respectively.
These are significant exports results and reflect the incredible innovation and ambition of the Irish enterprise sector and demonstrate the continued strength of Irish products and services in international markets.
I have referred the Deputy's request for statistics relating to the percentage of SMEs that currently export and the domestic value added from exporting SMEs to the Central Statistics Office, who have undertaken to engage directly with the Deputy on this.
