Record €15bn exports by Irish firms

Irish-owned companies last year achieved more than €15bn in exports, a record amount that exceeded even the highs of the Celtic Tiger era.

Employment levels at indigenous companies also stabilised, prompting hopes that Ireland’s economic recovery has finally begun.

The figures were revealed in Enterprise Ireland’s annual report and accounts for 2011 published yesterday.

Representing the highest ever annual export gain, Enterprise Ireland client companies achieved exports of €15.2bn in 2011, exceeding the pre-recession record levels of 2008. New export sales exceeded €2.14bn, a record increase.

Employment levels in the client companies stabilised in 2011 with full-time employment at 141,228 — a similar number to 2010. More than 9,000 jobs were created by client companies last year, while job losses were the lowest recorded in recent years.

Enterprise Ireland supported 93 new high-potential start-ups, approving €20.4m in funding, and there were 19 follow-on investments in high potential start-ups, valued at €3m.

Announcing the results, Frank Ryan, chief executive of Enterprise Ireland, said: “The outstanding achievements of these Irish exporters are of huge value and significance to Ireland and are to be strongly commended.

“The performance of Ireland’s exporting sector in overseas markets in 2011 was remarkable in any context, but particularly against the backdrop of a global economic slowdown.

“The impact of this on the Irish economy is enormous. These companies are responsible for the direct and indirect employment of more than 300,000 people in every town and village. Indigenous exporters also spent €18.3bn on goods and services in the Irish economy in 2011.”

Welcoming the report, Jobs Minister Richard Bruton said: “As I have said before, indigenous companies will be central to achieving growth and jobs in Ireland. Indigenous companies provide proportionately three times more benefit to the Irish economy than multinationals, and that is why the Government’s plan is focused on creating a powerful engine of indigenous business to create the jobs we need.

“Today’s announcement that companies supported by Enterprise Ireland achieved record levels of exports in 2011 is great news, particularly in such a challenging external environment. The news that employment in these businesses has stabilised after a number of difficult years is also welcome.”

Mr Bruton said the challenge was to build on these achievements by targeting further export growth in 2012, particularly in high-growth markets, so as to achieve substantial jobs growth.

“I am determined that, through rigorous implementation of the Government’s action plan for jobs, we will achieve this and ensure that indigenous exporting companies drive a powerful recovery in the Irish economy.”