Irish exports to become increasingly Asian led

The fastest growing trade partners for Ireland over the next 15 years will be the Asian economies of Vietnam, India, and Malaysia.

That is according to a study in which HSBC said it sees the outlook for Irish external trade as being “bright”, with robust growth in the US and Britain and a weaker euro helping to sustain strong export growth in the coming years. Low oil prices and improving consumer confidence should support a recovery in domestic demand, it added.

“The medium-to-long-term outlook for Ireland is encouraging, as it benefits from strong performances by its main trading partners. As a small and open economy, Ireland’s economic progress is clearly tied to the success of its export sector,” HSBC said in its report.