Enterprise Ireland, the Irish government’s trade and innovation agency today announced that client exports reached a record €34.57bn in 2023, a new record for Irish exporters, supported by the agency. Overall non-food exports increased by 8%.
The agency reported that by the end of 2023, it had surpassed its 2024 target of achieving a 10% increase in the number of companies achieving sales greater than €10m, €20m and €50m. At the end of 2023, a year ahead of the target, over 20% growth in each category had been achieved.
Technology and services exports were up 10% to €8.49bn. Industrial and life sciences exports were up by 7% to €10.384bn, while food and sustainability exports were down by 4% to €15.691bn, largely impacted by international dairy sales and prices.
The UK, the largest export market for Enterprise Ireland client companies, accounting for 29% of total exports, grew by 6% to €9.97bn. Food exports grew by 7% to €4.76bn. Industrial & life sciences exports grew 3% to €3.25bn, while technology and services were up 8% to €1.96bn in 2023.
Exports to the Eurozone, the second largest export market for Enterprise Ireland client companies, accounting for 25% of total exports, grew by 2% to €8.61bn in 2023. Food and sustainability exports of €4.28bn were down 6%, while industrial and life sciences exports of €2.86bn increased by 9%. Meanwhile, technology and services exports were up 19% to €1.47bn.
The largest export markets in the Eurozone are Germany, France and the Netherlands. Exports to Germany increased by 14% to €2.33bn while exports to France were up 5% to €1.82bn. Exports to the Netherlands were down 13% to €1.75bn.
The third largest export market, accounting for 19% of total exports is North America. In 2023, exports to the region were up by 5% to €6.48bn. Of which €5.9bn exports were to the USA. Overall, non-food exports to North America were up 8%. Technology and Services grew by 8% to €2.95bn, and Industrial & Lifesciences exports were up 7% to €2.22bn.
Enterprise Ireland client companies spent €39.3bn in the Irish economy in 2023, including €11.7bn on payroll.
Welcoming today’s results, Minister for Enterprise, Trade and Employment, Peter Burke T.D, said, “Across a variety of sectors and international markets, Irish exporters have made significant gains and continue to grow their influence internationally, despite a more challenging international business environment and rising costs. Irish exporters are a critical component of the Irish economy, and the government is committed to supporting this sector to scale to further heights in the years ahead.”
Leo Clancy, CEO of Enterprise Ireland, said, “Today’s results reflect the ambition and tenaciousness of Irish entrepreneurs, who with the support of Enterprise Ireland’s team are scaling internationally at an accelerated pace, with strong gains in key sectors, markets and sales growth by clients.
“Irish exporters have remained committed to investing in the UK, our largest trading partner and the 6% growth in exports justifies that commitment. While the Eurozone grew by a more modest 2% this can be largely attributed to Food exports to the region being down by 6%. Technology, industrial and life sciences exporters continue to thrive in North America, particularly the USA, with exports in these combined sectors up 8% to €5.17bn.
“Overall, Industrial, Lifesciences and Construction exports have surpassed €10bn exports and reflective of the calibre of Irish software being produced, we would expect Technology and International Services exports will also reach that €10bn milestone.
“Our mission is to accelerate Ireland’s economy with robust job growth and export gains worldwide. As we focus on business growth and expansion, sustainability, productivity and digitalisation will be high on our agenda.”
(Enterprise Ireland)
