InBus_Win09_1-55:InBusiness 1-61 11/12/2009 16:19 Page 41
Exports | FEATURE
Expect export
recovery next year
+++++++++++++++++++++++++++++++++++++++
It was Harold Macmillan who said, “Exporting is fun”. Anyone who takes this statement
to heart and starts exporting just for merriment is likely to find the fun wearing thin very
quickly, writes Nicole Matthews.
+++++++++++++++ ++++++ +++ ++++++
THIS YEAR has been described by many Irish
exporters as the toughest year in memory.
Many factors have contributed to Ireland’s weak
performance, particularly in traditional sectors
such as food and drink. Initial signs of recovery
in international markets have sparked hopes
that next year will see an improvement yet
overall domestic demand is still expected to
remain below par. It is no surprise then that this,
without any doubt, has been the most difficult
and challenging environment exporters have
faced in many years.
“There has been a range of factors affecting
exports this year,” insists Aidan Cotter, Chief
Executive of Bord Bia. “The food industry, for
example, has had to deal with a severe Mary Meehan of Chambers Ireland “ALL OF THESE FACTORS
economic downturn, a collapse in the world acknowledges that exporters have always been
COMBINED MEAN THAT
dairy market and massive and rapid faced with the task of overcoming problems in
depreciation of sterling. All of these factors order to be successful in international markets, VIRTUALLY EVERY SUB
combined mean that virtually every sub sector and that the problems faced by Irish exporters
SECTOR OF THE FOOD
of the food and drink industry will be hit and in today’s increasingly competitive international
total exports will fall significantly in the current environment are still considerable. AND DRINK INDUSTRY
year. We have to date seen reductions in the “The success of exporters and the entire
WILL BE HIT.”
order of 10 per cent across the board.” exporting effort is ever more essential for the
Irish economy to grow and prosper in these – Aidan Cotter
times of recession,” she says. “We know that, as
a small open economy, our growth and well- STERLING DECLINE
being are heavily dependent on our trade Indeed, the depreciation of sterling has been a
performance. To date, we have shown that we major factor which has compounded Irish
are well able to “punch above our weight,” and exports in the last year given that the UK
we are one of the world’s leading exporters per accounts for 45 per cent of our exports. Exports
capita but with increasing globalisation, the to the UK were also down 9 per cent in the first
world is becoming smaller, competition is five months of the year according to new
becoming stiffer, and we must run harder and figures from the Central Statistics Office (CSO),
faster just to stand still. While Ireland is still well with a decline in exports also to Germany, the
placed to capture opportunities in export Philippines and the Netherlands. An increase in
markets, a commitment to education, research exports was recorded for the same period to
and development, and providing companies the US which went up by 18 per cent. However,
with the necessary tool-kit to compete halfway through 2009 exports actually rose by
Aidan Cotter, Chief Executive, Bord Bia. internationally remains key to this challenge. “ 5 per cent in June compared with May, while
InBusiness Winter 09 41
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