Almost two-thirds of Irish exporters grew their sales in 2013, a new report from the Irish Exporters Association has found.
The report found that 62 per cent of firms selling outside the domestic Irish market had reported a rise in sales as companies sought to expand in territories such as China, Russia and Brazil. That compares with 58 per cent in 2012, with close to 80 per cent predicting a further rise in 2014 as Ireland leaves the bailout programme behind.
The weak domestic economy has forced companies to look further afield, with 95 per cent of those surveyed claiming one of the main benefits of exporting was the ability to sustain their businesses.
“Many Irish companies have learnt from the recession that they were over-reliant on a successful domestic economy. The sensible response to this has been to look overseas for new markets and thereby reduce vulnerability. Almost 70 per cent of the companies we spoke to have targeted new markets this year,” IEA president Colin Lawlor said.
However, he warned there was no room for complacency
“We need to remain vigilant around our competitiveness, and access to finance remains an issue for many small businesses. We need to increase our efforts to encourage more Irish firms to export and to help them win business successfully overseas,” he said.
One of the main concerns is around costs, with more than two thirds of respondents saying costs had risen in the past year, and 45 per cent claiming hikes in energy costs and other utilities will impair export capability.
Some 62 per cent of exporters said access to finance has not improved since last year and 37 per cent said the lack of qualified staff was hindering business.
