Dáil Éireann Debate, Thursday - 23 May 2024
176. 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. [23500/24]
View answerMy Department does not collect statistics in relation to Irish manufactured goods, trade statistics are compiled by the Central Statistics Office.
The 2023 Goods Exports figures from the Central Statistics Office (CSO), while showing a decrease on the record levels achieved in 2022, nonetheless demonstrate a strong performance by exporters from Ireland in the face of the ongoing disruption to global supply chains and geopolitical tensions.
Goods manufactured in Ireland cover a large range of products, with Organic Chemicals and Medical and Pharmaceutical Products making up over half of Ireland's exported goods.
Much of the decline in 2023 was due to a fall in exports of Organic Chemicals and Medical and Pharmaceutical Products, exports of which were boosted in recent years by COVID-19 vaccines and had been particularly strong in 2022. A decline was also seen in exports of electronic integrated circuits, reflecting cyclical developments in the semiconductor sector.
The CSO has reported unadjusted goods exports were €53.2 billion in Quarter 1 (Q1) 2024, an increase of €2.3 billion when compared with the same period last year. Ireland’s export performance has been consistently strong for many years and this has continued into 2024.
The National Competitive and Productivity Council published in 2023 a Competitiveness Bulletin summarising Ireland's performance in the latest Institute for Management Development (IMD) World Competitiveness Yearbook. This annual assessment that benchmarks the performance of economies based on more than 330 criteria measuring different facets of competitiveness. It ranks Ireland the most competitive country in the euro area and the 2nd most competitive economy in the world (out of 64 economies) an improvement from 11th position in 2022.
Ireland’s position in the rankings reflects steady progress across specific sub-factors over a number of years – such as under ‘Government Efficiency’, alongside strong economic results which have boosted its ranking under ‘Economic Performance’. The IMD note that the top four economies are small, advanced economies, such as Ireland which make good use of their access to markets and trading partners.
