Key export markets to remain stagnant

Ireland has reached its most competitive levels in nearly 10 years, but the outlook is still for more stagnation amongst the country’s chief export markets, according to a new study.

The Ireland Export Analysis Report Index — carried out by financial services firm, Investec — registered a 0.2% increase for the first quarter of this year, indicating a modest increase in Irish export performance for the period, despite the general stagnant nature of the wider eurozone economy.

“While prospects for the global economy for 2012 remain challenging; Ireland is, in fact, at its most competitive level in almost a decade. With the euro weakening for three consecutive quarters, Irish exporters have the helping hand of a currency-related competitiveness improvement,” according to Aisling Dodgson, head of treasury at Investec Ireland.