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Export Performance and Prospects for 2016-2017

Export Performance and Prospects for 2016-2017

Export Performance and Prospects for 2015-2016The Irish food and drink sector recorded the seventh consecutive year of export growth as increased output in major sectors and an improvement in market demand for key categories boosted the value of trade in 2016.

Much of the growth was recorded in trade to international markets where higher demand, improved market positioning and relatively steady exchange rates helped improve the competitive position of Irish exports. Lower trade to the UK triggered by challenging exchange rates and competitive pressures was offset by increased exports to markets such as North America and China. A good recovery was also seen in continental EU markets as improving economic conditions led to stronger demand in key categories.

It is estimated that the value of Irish food and drink exports increased 2% to reach €11.15bn in 2016. This marks growth of over 41% or €3.3 billion since 2010.

Irish Food and drink exports, 2005 to 2016 (Gm) Source: Bord Bia estimates The strongest performers in terms of export growth in 2016 were prepared foods, sheepmeat, beverages, pigmeat and to a lesser extent dairy. Weaker prices negatively affected the value of beef and edible horticulture exports while lower volumes affected seafood exports. Livestock exports declined in value terms largely due to a significant reduction in live cattle shipments, while poultry exports recorded a significant decrease due to both reduced prices and lower volumes.

Overall Export Performance and Prospects Infographic

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Infographic

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