Irish Food Exports Grow 7% In June

By square1
Irish Food Exports Grow 7% In June

Exports of Food and Live Animals rose 7% in June, according to the latest data from the CSO. Across all industries, exports grew by €439 million (+6%) to €7.78 billion in June 2014, compared to June 2013.

Additionally, June exports to the US, Ireland’s biggest single export market - increased by 36%. Exports to China (up 27%) and Japan (up 26%) also grew.

“Exporting companies are contributing significantly to the performance of the Irish economy," said Minister for Jobs, Enterprise and Innovation, Richard Bruton. "Driving enterprise and export growth, leading to job creation, will continue to be a major focus for the Government over the coming months.”

The current situation in Russia has raised a question as to whether these positive figures are sustainable however. According to David McNamara of Davy Stockbrokers, "Much attention has focussed on the likely effect of the Russian sanctions and the risks to Irish export growth; however, the impact is expected to be negligible.

"Last year, food exports to Russia totalled €232m, a very small proportion of the €8.7bn worth of total food exports, while Bord Bia confirmed that just €70m worth of exports would be affected by the sanctions in the dairy, beef and seafood sectors. A slowdown in the eurozone could also weigh on Ireland’s export growth this year. Eurozone markets account for 35% of Irish goods exports."


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