Tesco accounts for 9% of food exports
The report has found that Irish suppliers exported €705.8m of Irish-produced goods to the Tesco group internationally in 2010. The market destinations were Tesco stores in Britain, Central Europe and Asia.
Chief executive of Tesco Ireland, Tony Keohane, said: “Our investment of over €1.5bn in this country over the past 10 years is now paying considerable dividends for Ireland in the form of exports, employment and value added to the economy. We are very proud of this contribution and intend to continue playing a constructive role in supporting a recovery in Ireland’s economy. It is a win-win situation for Ireland and for Tesco.”
The report by Indecon International Economic Consultants, entitled Assessment of the Economic Impact of Tesco on the Irish Economy, found that Tesco is now worth €2.7bn a year to the Irish economy, with total expenditure on goods and services in Ireland amounting to almost €2bn. The total contribution of Tesco Group activities to Irish GDP is estimated to be €1.7bn, or 1.1% of GDP.
One of the biggest product categories exported to Tesco was fresh meat. Irish beef exports to Tesco Group reached €177m in 2010, almost 14% of the full value of beef exports from Ireland.
Report author and Indecon partner, William H Batt, said: “The new data shows the significance of Tesco’s role in the facilitation of exports, in particular in the area of beef, but also in its overall and substantial contribution to the Irish economy.”
Mr Keohane said: “The success of Irish farmers and food processors supplying us here and particularly as exporters to Tesco internationally, reflects both the quality and value of Irish produce as well as the professionalism of our food businesses in world markets.
“The expansion of our Irish supplier development programme this year will, we hope, open new opportunities for Irish farming and food businesses.”
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