The agri-food sector in Ireland grew faster than any other industry segment during the first three months of the year, according to a new survey.
InterTradeIreland’s latest business monitor of more than 750 small and medium-sized businesses shows 53 per cent of companies in the agri-food sector reported growth during the first quarter, versus 39 per cent of firms from across all other industries.
In addition, 18 per cent of agri-food firms reported an increase in staff numbers with a further 27 per cent planning to take on more employees in the coming year.
The survey reveals 52 per cent of agri-food firms are currently exporting, almost double the national average.
Of those that are active in other markets, 16 per cent reported having experienced difficulties in setting a competitive price for goods and services. A further 13 per cent cited regulation compliance issues in opening in operating in other jurisdictions, with 11 per cent noting resourcing challenges.
"The results show that agri-food firms are more innovative than most with 77 per cent of business implementing innovative new processes, new product development and new branding or design in the past three years," said Aidan Gough, chief executive, IntertradeIreland.
“Many agri-food businesses seem to be in a positive place but they are not ignoring the future. Almost two-thirds are scanning the horizon to see what areas of opportunity might be out there; from developing new premium products to taking advantage of the health and wellness agenda,” he added.
