The Minister for Enterprise, Trade and Employment, Simon Coveney, published two surveys on the Irish economy, which demonstrate the strength of Ireland’s economy and record employment levels despite the challenges posed by the pandemic and Brexit.
The Annual Employment Survey 2022 finds that jobs in client companies of government agencies, Enterprise Ireland, the IDA and Údarás na Gaeltachta, are now at their highest ever level, at over 529,144 jobs, which is a 7.3% increase on 2021 figures.
The Annual Business Survey of Economic Impact 2021 shows strong growth in sales, exports, value added and direct expenditures in the Irish economy for both Irish and foreign-owned companies in 2021.
The Minister said, “these results show the resilience of industry in Ireland. In spite of the challenges posed by the pandemic, inflation and the war in Ukraine, employment in companies supported by the government is at a new record high. Sales and exports continue to grow strongly, and these companies purchase goods and services in the local economy. Government enterprise policy is working and my department will continue to support Irish business, while also investing in bringing new jobs to Ireland through our agencies.”
- Employment in FDI firms increased by 8.2% since 2021, with 23,854 total additional jobs.
- In Irish-owned firms, employment increased by 6.0%, an increase of 12,137 total jobs since 2021.
- ICT services is the fastest growing sector. Over a third (36.1%) of FDI companies here work in that sector.
- Among Irish owned firms the strongest growth was in ICT services sector with a 7.9% increase or 2,082 full time jobs.
- Growth in employment was recorded in all eight regions between 2013-2022, with over 51% of full-time employment in both Irish-owned and FDI companies now coming from outside of Dublin.
- Total sales amounted to €383.5 billion in 2021 which represents an increase of 9.6% in current prices on the previous year’s figure of €350.1 billion.
- Total exports in 2021 amounted to €345.8 billion, an increase of 9.2% on the previous year of €316.8 billion, with 92.1% of these exports being from foreign-owned enterprises.
- Value added (sales less materials and services costs) has also increased over this time-series and in 2021 amounted to €145.8 billion, up 8.4% on the previous year with 59.5% of this increase attributable to the foreign owned IT services sector.
- Direct expenditure in the Irish economy (payroll, Irish materials, Irish services) has increased over 2020 by 8.7% to €63.2 billion in 2021. The level of direct expenditure in the Irish economy by foreign-owned client companies was €33.5 billion and €29.7 billion for Irish-owned client companies.
The Department of Enterprise, Trade and Employment co-ordinates these surveys of the client companies of the enterprise development agencies (Enterprise Ireland, IDA Ireland and Údarás na Gaeltachta). The results are presented by company ownership in terms of Irish and foreign-owned firms.
The indicators collected include annual sales and exports and payroll, materials and services costs. Data collected in 2021 and 2022 is merged with results of previous surveys to provide trend data and indicators are available by ownership and sector and are used by the agencies in their annual reports and end-of-year statements.
Agencies have commenced surveys of client companies for the 2022 Annual Business Survey of Economic Impact with all results expected early 2024.