IEA Annual Report 2016

In 2016, Ireland achieved another record year for exports, reaching €259 billion, an increase of 8.3% compared with 2015. Goods exports reached €118 billion, while services exports grew to €141 billion, driven mainly by computer services, machinery and chemicals. This strong performance reinforced Ireland’s position as a highly export-oriented economy.

However, the UK’s decision to leave the European Union created significant uncertainty for Irish exporters. The depreciation of Sterling reduced the value of exports to the UK by nearly €600 million, highlighting Ireland’s dependence on traditional trading partners. The IEA therefore emphasised the need to diversify exports towards emerging markets in Asia, Africa and South America.

Throughout 2016, the IEA strengthened its support for Irish businesses through the National Export Hub, the Export Knowledge Programme and the establishment of regional councils. These initiatives focused on helping SMEs enter international markets, developing export skills and improving regional business support.

Looking ahead, the IEA identified four key priorities: improving cost competitiveness, addressing skills shortages, diversifying export markets and encouraging entrepreneurship. The Association also called for stronger government action to help businesses prepare for Brexit, protect international trade relationships and maintain Ireland’s long-term export growth.

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