Ireland advised to look to emerging export markets to counter slowdown

Ireland will have to develop deeper export opportunities in developing countries to compensate for the slowdown in traditional markets over the next decade, a study by HSBC has found.

In a comprehensive study of global trade flows over the next two decades, the bank forecasts that Irish exports to Europe, excluding Russia, will expand at an annual rate of 3-4% between now and 2020.

The study finds that exports to Europe will increase only marginally, to average 5% each year between 2020 and 2030. Moreover, Irish exports to the US and Britain will grow at an average rate of 5% every year between 2020 and 2030.