Report
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Following record increases in value and volume in 2022 (+22%), Irish food, drink and horticulture exports totalled €16.3 billion (-4%) last year.
Overall, exports retained the majority of the 2022 gain, however the industry faced challenges on input costs and shifting global commodity demands.
Primary producers were impacted by severe weather conditions throughout 2023, while the cost-of-living crisis reduced consumer spending in certain export markets and is reflected in the overall export performance.
Business sentiment remains positive
Despite the business environment and operating challenges, it is positive to see that the majority of Irish food and drink exporters remain optimistic about achieving growth in 2024.
Confidence in European and Americas markets are strongest, with almost 70% of exporters believing some level of expansion can be achieved in these territories. This confidence level is despite the fact that more than half of these businesses (which collectively make up over €11 billion of export sales), feel that their competitiveness has been negatively impacted in the past 12 months.
The cost of labour, ongoing cost inflation, residual energy price concerns, and geopolitical tensions are key risks to competitiveness.
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