Contribution of agriculture to economy ‘greater than exports suggest’

THE contribution that agriculture and food make to the Irish economy is far greater than a simple analysis of export figures would present, Teagasc director Professor Gerry Boyle told the Agricultural Science Association conference in Galway.

“For every €100 million of exports from the pharmaceutical sector, a contribution of around €20m is made to GDP. But for the agriculture and food sectors, every €100m of exports contributes €50m to GDP,” he said.

Prof Boyle said there is a positive future for the agriculture and food sectors in the medium term, despite the increased volatility in commodity markets.