Ireland’s Maritime Sector is Key Driver of Economic Growth

As a maritime nation and as an economy, we are heavily dependent on seaborne transport, which facilitates international trade and is an indispensable part of a supply chain that links Irish industry to world markets. Our ports and maritime services also support Ireland’s tourism industry by providing ferry services to and from ports in the UK and Continental Europe. In meeting the needs of trade and tourism, the maritime industry has shown itself to be flexible and resilient and has demonstrated the ability to respond appropriately to growth and contraction in the Irish economy.

A recent report by the Socio-Economic Marine Research Unit (SEMRU) of NUI Galway shows that Ireland’s marine economy is outperforming Ireland's general economy, with the shipping and maritime services sector, comprising Irish sea-based transport operations for freight and passenger transport, as well as associated services, playing a key role in driving growth.

In 2016, Ireland’s marine economy had a turnover of €5.7 billion, 37% of which is attributable to the shipping and maritime services sector. The direct economic value of Ireland’s marine economy was €1.8 billion in 2016, or approximately 0.9% of gross domestic product (GDP), which represents an increase of 20% on 2014.

This positive trend is also reflected in a report released earlier this year by the Irish Maritime Development Office (IMDO), the Irish Maritime Transport Economist, which records a 2% increase in total port traffic in 2016, reaching the highest level of throughput achieved since 2007. Statistics for 2017 show continued growth, with shipping and port activity in the Republic of Ireland rising by 7% in the first quarter of 2017 when compared to the corresponding period of 2016. It is clear that our maritime sector can respond to the needs of our growing economy, and indeed has a vital role to play in supporting the development of our national economy for decades to come.

We are delighted to be involved with the Export Industry Awards as sponsor of the Maritime Services Company of the Year category again this year, and we strongly encourage those involved in the maritime industry to put themselves forward to receive recognition for the significant role that they play in the growth and development of the export industry in Ireland, which contributes directly to the wider growth of Ireland’s economy.

Liam Lacey, Director, Irish Maritime Development Office

The Export Industry Awards recognise the remarkable achievements of companies working in the export industry.

For more information and to apply visit bit.ly/2q1JN2Y. There is no application fee and companies are welcome to enter more than one category.