2007
Press Release
Tuesday 28 August 2007
Irish Exporters Association - Half Year Review 2007
The Irish Exporters Association (IEA) released its half year review today (28 August 2007) with very positive news of continued merchandise export growth adding to the robust services growth.
The key features of the review were:
· Total exports for the first half of the year +7% to €74.4 Billion
· Merchandise exports +6% to €45.5 Billion
· Services exports +9% to €28.8 Billion
· Main growth from outside Eurozone where merchandise exports grew by 23% and services exports grew by 10%
Key markets for exporters were:
- Great Britain, where the export sales increased by 7% to €7.1 Billion for the six months
- Northern Ireland, where export sales increased by 9% to €866 million
- Switzerland, where a major jump of 69% took export sales to €1.8 Billion
- China and Hong Kong, where export sales increased 13% and 49% respectively
- Philippines, where a major boost of 163% in export sales took place
John Whelan, CEO of the Irish Exporters Association stated at the launch of the review;
“The strong return of export growth to the UK, after seven years of stagnant trade, is providing a very welcome boost to both merchandise and services exports. Particularly heartening is the rapid growth in both exports and imports to and from Northern Ireland, giving a clear indication of the pent up potential for all Ireland trading now being released.”
He also stated “the growth in trade with the UK is particularly important as a counter balance to the extensive exposure of exporters to the US, with the continuing rapid depreciation of the Dollar and the impact of the US housing and financial sector turmoil, putting Irish exports to that market under risk.”
He went on to say about performance in Asia;
“The persistent focus by Irish exporters on the large emerging China market is showing signs of paying off, with exports to mainland China increasing by 13% and to Hong Kong by 48%. This is also a strong endorsement of the public-private sector promotion of trading with Asia, with Government and exporters joining together in the Asia Pacific strategy to tackle this huge and complex market.”
Regarding the losing of market share in mainland Europe, he stated “There are clear signs that Irish exporters are losing out to the new EU member states exporters in the major European markets of Germany, France and Italy.
The rapid rise in exports from the 10 new EU member states to the older, larger economies in Europe must be taken seriously as a competitive threat to our long term customer base in Europe”, he stated.
He concluded by saying “A focused public-private partnership (along the lines of the Asia Pacific strategy) will be required to rebalance the competitive position of Irish exporters in mainland European markets and must be a priority of the new Government”.
Ends
For further information contact: John Whelan
Telephone: 01 661 2182 – Fax 01 661 2315
Email: jfwhelan@irishexporters.ie
28/08/07
The full text of the document “Irish Exporters Association – Half Year Review 2007” is available here
 |
 |
