‘Difficult’ year ahead for exports

A MILD recovery in exports will not translate into jobs, according to reports released by the Irish Exporters Association (IEA) and National Irish Bank (NIB).

With 2010 and 2011 exports rebounding from the declines of 2008 and 2009, the NIB’s quarterly FDI report for winter 2011 predicts Irish export growth of 4.5% in 2012, but expects any export-led employment lift to be less than NIB’s 2011 forecast of between 5,000 and 8,000 jobs.

NIB chief economist Ronnie O’Toole said: “European markets represent 60% of Irish exports, although they are expected to only grow 0.3% in 2012. Next year will be a more difficult year in terms of exports.