Exports on target for 9% growth

IRELAND’S export market remains on course for above average growth of around 9% this year, on the back of a strong first-half showing — especially in the food sector.

The value of Irish exports grew by nearly 8% — or €6 billion — during the first half of the year. This was in line with Irish Exporters’ Association (IEA) projections, and the organisation is forecasting a 9.1% increase in full-year export value for 2011 to €177.5bn. This would represent a rate of growth “substantially higher” than the global average, according to the IEA.

The growth was driven by a continued surge in agri-food exports, which grew by 14.2%, much of this coming from sales in the eurozone and to Asia.