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Irish multinationals employed almost 249,000 abroad in 2010

Figures show the UK was the most important destination country for Irish businesses abroad.

Image: wellphoto via Shutterstock

IRISH MULTINATIONALS EMPLOYED almost 249,000 people abroad and generated a turnover of €71.9 billion in 2010 according to new figures.

The figures released by the Central Statistics Office (CSO) showed distribution was the dominant sector for Irish businesses abroad followed by manufacturing and services.

The UK was the most important destination country for Irish multinationals with employment of almost 73,000 and turnover of €28 billion. This was followed by the US with employment of almost 55,000 and turnover of €13.8 billion.

Other important destination countries for Irish multinationals in 2010 were Germany, Poland, Netherlands and France.

By contrast, foreign multinationals in Ireland employed almost 257,000 people in affiliates generating a turnover of almost €162.4 billion.

Small and medium enterprises (SMEs) in Ireland accounted for almost 99,8 per cent of active enterprises in Ireland in 2010 and employed almost seven in every ten persons in the business economy.

Employment in SMEs fell by 18 per cent between 2006 and 2012 and the construction sector was impacted the most with only 44.9 per cent of the 2006 level and over 115,000 jobs losses.

Industry also suffered significantly with SME employment falling to 79.9 per cent of the 2005 level which corresponds wit over 29,000 job losses.

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