Exporters ‘under severe pressure’

The Irish Exporters’ Association said the pressures on exporters in Ireland continue to be very severe, despite a good first quarter.

Start of the year exports are up 6%, aided by strong export growth from pharmaceuticals and beverages.

However, the association said if inflation gets out of control it will drag back export gains. Exports to the eurozone were down 8%, reflecting the impact of high inflation in Ireland, at a rate of more than twice that of competing eurozone nations, the group said.