Exports to lead "solid and sustainable" growth - forecast
A growth in trading with China, Mexico and Argentina will be among the keys to the country’s economic recovery, says a new forecast.
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A growth in trading with China, Mexico and Argentina will be among the keys to the country’s economic recovery, says a new forecast.
Minister Richard Bruton said that the government is determined to build a “powerful engine of Irish exporting businesses”.
However, figures show the trade surplus has increased to €3.2 billion in the year with the agri-sector performing strongly.
There was a decline of €703 million in the year up to June – driven largely by the drop in pharma sales, as patents for major drugs expire.
The expiration of pharmaceutical patents have impacted sales in that sector, hurting Ireland’s national exports.
The association said that if the government succeeds in creating more jobs, more harsh cuts should not be needed.
The ban introduced by six Middle-Easter countries following BSE crisis was scrapped after successful inspection.
Overall, the EU accounted for 58 per cent of total exports, while the US was the main non-EU destination accounting for 20 per cent.
The most successful sectors were engineering, software, internationally traded services and medical devices.
Exports increased by 2.2 per cent while imports were down by -2 per cent in February 2013.
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It is expected the UK, USA and Germany will remain the top three destinations but countries
Figures from the CSO show there was a trade surplus of €42.98 billion last year.
A working paper by an IMF economist says Ireland can get out of its slump as long as it makes itself competitive.
An agreement being signed today could see some of the largest wind turbines in the world erected in the Bog of Allen in the midlands.
A seven per cent increase from October to November 2012 was noted.
Bord Bia says the value of Irish food and drink exports increased by almost 2 per cent to exceed €9 billion for the first time.
Last summer the UAE and the Irish government also reached agreements on beef and poultry meat exports from Ireland.
December marked the eighth consecutive month of growth for the industry – although it was at a slower pace.
The value of Irish exports was up slightly on September, while the volume of imports also fell.
Whiskey from the Midleton distillery in Cork is one of Ireland’s greatest export successes.
The drop in Ireland’s trade surplus is the first since March of this year.
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The Business Beyond Borders aims to create a platform for companies to grow overseas and take advantage of Ireland’s strong export market.
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The ESRI’s latest economic forecast says Ireland’s economy will shrink in 2012, and grow only very modestly in 2013.
IBEC’s engineering division has worked with the Department of Foreign Affairs and Trade on the report.
The CSO figures also show that exports to key target areas like India, China and Russia have risen in the last year.
The Irish Forestry and Forest Products Association has said that planting of new forests fell by 20 per cent between 2010 and 2011.
The Food Safety Authority of Ireland is planning to get tough on vendors who mislabel food in an attempt to scam consumers.
Irish workers hoping to find employment in Austria’s mining industry have been reassured that the boom, in terms of construction, is not over.
The Irish Maritime Development Office said it expects little improvement in manufacturing orders across Europe for the rest of the year.
A disappointing April was followed by an improved May but June’s exports fell back once more.
Export-led recovery, anyone?
Imports were 3 per cent lower in June, following a 6.2 per cent increase the previous month.
Singapore has opened its trade doors to Irish sheep meat.
The Economic Intelligence Unit today published a report showing that for Irish organisations to grow, they need to cater to customers both at home and abroad.