Enterprise; Trade and Employment | New markets for Irish exports
To ask the Tánaiste and Minister for Enterprise; Trade and Employment the extent to which new markets for Irish exports overseas are being sourced on an ongoing basis; and if he will make a statement on the matter.
Global Ireland 2025 was launched in 2018 with the aim of doubling the scope and impact of Ireland’s global footprint in the period to 2025. This initiative has led to Enterprise Ireland expanding its office presence in overseas markets and to indigenous Irish industry growing its exports globally.
In parallel, the Trade & Investment Strategy for 2022 to 2026, Value for Ireland, Values for the World, sets out our principled and holistic approach to international trade policy and aims to expand Ireland’s global trade links and enhance our competitiveness as a top location for business and talent.
Enterprise Ireland has expanded its global presence through the opening of eight new offices internationally in Munich, Lyon, Manchester, Copenhagen, Montreal, Seattle, Melbourne and Ho Chi Minh City. These offices are being embedded into the Enterprise Ireland overseas network; and will help to build new buyer relationships in markets where growth opportunities have been identified.
Enterprise Ireland continues to scale its international export marketing campaign ‘The Irish Advantage’, a digital export promotion campaign focused on stimulating awareness of Irish products and services in international markets and encouraging buyers to source from Ireland.
Enterprise Ireland also has a programme of trade missions, trade fairs and knowledge events that give clients the opportunity to connect with existing and new customers, access key decision makers, increase sales in international markets and exchange ideas.
Diversification has been a key focus of Enterprise Ireland’s work in recent years, and considerable progress is being made on the market and sectoral diversification of Irish-owned enterprises.
In 2021 Enterprise Ireland saw exports by Irish owned companies that it supports, increase by 12% to a record €27.29bn. This is the highest ever level of growth for Enterprise Ireland-backed companies in export value and growth was experienced across all territories. Exports by Enterprise Ireland client companies to the Eurozone increased by 10% last year, totalling €6.04bn and accounting for over one-fifth (22%) of total exports. The next largest market was North America, which saw a 14% increase, bringing total exports to €4.87bn and this market now accounts for 18% of total exports from Enterprise Ireland supported companies. Despite the uncertainty caused by the changed trading relationship between the UK and Ireland, exports by Enterprise Ireland client companies to this market totalled €8.43bn. This was an increase of 15%, with the UK accounting for almost one-third (31%) of the export trade of Enterprise Ireland client companies.
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