15th February 2024
The Minister for Enterprise, Trade and Employment, Simon Coveney TD, today noted the latest Goods Exports and Imports release from the Central Statistics Office (CSO). While showing a decrease on the record levels achieved in 2022, the figures nonetheless demonstrate a strong performance by Irish exporters in the face of the ongoing disruption to global supply chains and geopolitical tensions.
First estimates from the CSO show that the value of goods exports from Ireland in 2023 was €197 billion, a decrease €11.5 billion or -6% when compared with the record level achieved in 2022. The Central Statistics Office point out in their release that the export value in 2023 was still more than €30 billion higher than in 2021. Much of the decline in 2023 was due to a fall in exports of Organic Chemicals and Medical and Pharmaceutical Products, exports of which were boosted in recent years by Covid-19 vaccines and declined in 2023 as expected. A decline was also seen in exports of electronic integrated circuits, reflecting cyclical developments in the semiconductor sector.
Commenting on today’s figures Minister Coveney said:
“Export growth in Ireland has been consistently strong for many years now. Government policy seeks to drive export growth across the economy and support Irish based enterprises in international markets. My Department and its agencies, Enterprise Ireland and IDA Ireland, will continue to focus on the established and new emerging markets to reinforce the potential for Irish companies in the global marketplace and provide a platform for export growth and investment opportunities”.
Welcoming the publication of the CSO’s latest trade data, Minister Calleary said
“While today’s data from the CSO shows a 6% decline in goods exports year on year, it will be remembered that 2022 exports were particularly strong and the 2023 performance by our exporting companies is impressive given the difficult global trading circumstances faced by many. We are committed to supporting our enterprises and opening up the potential for even stronger trade links and connectivity between Ireland and the rest of the world”.
ENDS
