Enterprise Ireland Annual Business Review 2014

30th April 2015

Record €18.6bn in exports from clients of Enterprise Ireland in 2014

10% annual increase fuelled by demand for Irish software, construction, food & manufactured goods

Julie Sinnamon, CEO Enterprise Ireland announces record growth in exports for Irish companies
Julie Sinnamon, CEO Enterprise Ireland announces record growth in exports for Irish companies

Exports by Enterprise Ireland client companies exceeded €18.6bn in 2014, a record figure and an increase of 10% on 2013 results. Greatest wins came from the Software sector with exports up by 19%, followed by the Construction and Life Sciences manufacturing sectors*.

Demand for Irish exports showed greatest growth in the Latin America and Asia Pacific regions - up 42% and 25% respectively – while demand for Irish goods in the UK grew by 9% to a record €6.8bn.

Julie Sinnamon, CEO, Enterprise Ireland said: “Record exports of €18.6bn were achieved in 2014 by Enterprise Ireland client companies – representing an increase of almost 10% over 2013 figures. Significantly, growth was recorded across all sectors and all global regions. These results are reflected in the record jobs performance by Enterprise Ireland clients in 2014 when our clients reported the highest net job gains in the history of the agency, and further validate Enterprise Ireland’s investment in indigenous industry.

“Enterprise Ireland is very proud of the companies we work with and their outstanding achievement in continuing to increase export sales. It is especially encouraging to see significant gains in established markets like the UK and North America and the high growth economies of Asia Pacific and Latin America. Also noteworthy are record performances from the Irish software, construction and life science sectors”.

ABR 2013/2014 – key facts and figures

Total Sales (export and domestic) have increased to €36.3bn – an increase of €2.7bn or 7.9% on 2013 total sales. This is the highest level of total sales in the history of the agency (1998).

Total Exports sales from our clients have increased to €18.634bn – an increase of 9.9% on 2013 figures. These are the highest export sales in the history of the agency (1998).

Exports have increased across all sectors as shown in Table 1.

  • Food, our largest export contributor (55% of total exports) is up 8% to €10,286bn.
  • Manufacturing companies (16% of total exports) are up 11% to €3bn.
  • Construction and Consumer Retail companies (13% of total exports) are up 14% to €2.449bn
  • Internationally Traded Software companies (7% of exports) are up 19% to €1.305bn.
  • Internationally Traded Service companies (9% of exports) are up 7% to €1.687bn


Exports have increased across all territories as shown in Table 2.

  • UK, main export market accounting for 36% of total exports increased by 9% to €6.8bn.
  • USA/Canada accounting for 13% of total exports are up 16% to €2.339bn.

Exports have continued to increase to the High Growth Markets, which is a key focus of Enterprise Ireland, with exports increasing to €2.26bn this year.

Our top 5 exporting countries are UK, US, France, Germany and Netherlands. Exports to these countries account for just over €11bn in export sales (61%)
 

Key facts on 10 year trends 2004-2014:

Total sales and Total Exports are at the highest in the last 10 years and in the history of the agency (1998).

Exports have grown from €10bn to €18.6bn between 2004 and 2014.

2014 is the first time that

  • Food exports have exceeded €10bn
  • Manufacturing exports have reached €3bn
  • Exports to the UK have reached €6.8bn
  • Exports to the US have exceeded €2bn

These results, along with clients R&D performance will be published in the Enterprise Ireland Annual Report 2014, which will be published in June/July 2015.



Recent Employment Results Launch in December 2014:

2014 was a year of record employment levels in our Client companies, with total direct employment (both full time and part time) in Enterprise Ireland client companies of 180,072.  Of these 156,202 were full time jobs while 23,870 were other jobs. These were the highest level of total employment and full time employment in the history of the agency.

Figure 1

Figure 2

Figure 3.1


Enterprise Ireland Clients' Export Performance

201220132014
Exports
€ 15.8 bn€ 17.7 bn€ 18.634 bn
Export Gains
€ 1.843 bn€ 2.121 bn€ 2.224 bn
Export Losses
€ 0.776 bn€ 0.821 bn€ 0.572 bn
Net Change
€ 1.067 bn€ 1.3 bn€ 1.67 bn
Net Export Growth
+7.5%+8.2%+9.9%

Enterprise Ireland Clients' Export Performance Targets

201420152016
Total Exports Target
€ 18.4 bn€ 20 bn€ 22 bn
Export Gains Target
€ 1.9 bn€ 6.8 bn

Exports by Clients +9.9%

SectorExports 2013 €mExports 2014 €mChange 13/14
Food
9,51210,286 € 774m8%
Life Sciences, Engineering, Paper Print & Packaging, Electronics & Cleantech
2,7143,007€ 293m11%
Construction & Consumer
2,0632,349€ 286m14%
Software & Public Procurement
1,0931,305€ 212m19%
Internationally Traded Services
1,5811,667€ 106m7%
Total Client
16,96318,634€ 1,671m9.9%

Exports by Territory

2013 (€m)2014 (€m)Change 13/14
UK
6,2696,8159%
Northern Europe
3,6403,8987%
Central Eastern, CIS & Russia
6396888%
S. Europe / M, East / Africa
1,9242,0275%
USA / Canada
2,0172,33916%
Asia Pacific
1,1211,40625%
Latin America
15922442%
Unspecified
3413626%
Sales to Irish Dairy Board
8538753%
TOTAL
16,963
18,634
9.9%

Food Exports +8%

Exports 2013 €mExports 2014 €mChange 13/142014 Gain2014 Loss
Dairy, Functional Food/Ingredients Beverages & Food Tech
5,5245,9924688%49628
Consumer Food, Poultry, Seafood & Horticulture
1,2171,276595%10243
Primary Meats & Food FDI
2,7713,0182479%30356
TOTAL
9,51210,2867748%907127

Life Sciences, Engineering, Paper Print & Packaging, Electronics & Cleantech

Exports 2013 €mExports 2014 €mChange 13/142014 Gain2014 Loss
Life Sciences & Cleantech
1,0361,14310310%15245
Engineering
1,1601,28112210%19674
Electronics, Paper Print & Packaging
5185836512%8521
TOTAL
2,7143,00729311%433140

Construction, Timber & Consumer Retail

Exports 2013 €mExports 2014 €mChange 13/142014 Gain2014 Loss
Construction & Timber
1,5141,74219913%299100
Consumer Food, Poultry, Seafood & Horticulture
5196078817%11124
TOTAL
2,0632,34928714%411124

Internationally Traded Services

Exports 2013 €mExports 2014 €mChange 13/142014 Gain2014 Loss
Business & Consumer Services, Education
912963516%11362
Financial Services & BPO
669724558%13883
TOTAL
1,5811,6871037%251145

Internationally Traded Software

Exports 2013 €mExports 2014 €mChange 13/142014 Gain2014 Loss
Communications & Digital Content
5396359618%12125
Enterprise Software Solutions
55467011621%12711
TOTAL
1,0961,30521219%24836

ABR 2013/2014 – key facts and figures at a glance

2014 PerformanceHistoric Performance over the last 10 years

Highest Ever Total Sales of €36.3bn in 2014 



Total Sales have increased to €36.3bn in 2014 – an increase of 2.7bn (or 7.9%) on 2013 sales.

Exports now account for 51% of total sales or €18.634bn.

Sales have increased across all sectors

Highest sales in the last 10 years and in history of the agency (1998).

Sales have increased by 50% since 2004 (€24.4bn)

Exports now account for 51% of total sales in 2014 compared to 42% in 2004.

Highest Ever Export Sales of €18.634bn

Export sales increased by 9.9% to €18.634bn, exceeding our export target of €18.4bn.

Highest export sales in the last 10 years and in the history of the agency (1998).

Exports have increased by €8.5bn since 2004

Highest Export Gains

This represents a gain of €2.2bn, exceeding our export gain target of €1.9bn.

Export losses of €572m & net change of €1.67bn

Highest export gain in the last 10 years.

Export losses similar to 2011.  

Exports  increased in all sectors

Exports have increased across all sectors and all departments except for Financial Services & BPO.

Food – our largest export contributor up 8% to €10.286bn,

Internationally Traded Software and Services up 12%to €2.99bn with a particularly strong performance by Software – up 19% to €1.305bn.

Manufacturing companies (known as LECE within Enterprise Ireland) such as electronics, engineering, lifescience and cleantech up 11% to €3bn.

Construction & Consumer Retail up 14% to €2.349bn.

First time that

Food exports have exceeded €10bn

ITSS exports have reached €2.9bn

LECE exports have reached €3bn

C&C exports of €2.35bn are growing compared to last year (€2.1bn), but are still lower than peak figures in 2011 of €3.2bn

Exports increased in all territories

Exports have increased in all territories:

UK, our main export market, accounting for 36% of total exports, increased by 9% or 3.5% when sterling exchange rates taken into account to €6.815bn.  Food accounts for 51% of this (€3.5bn).

USA/Canada, accounting for 13% of total exports are up 16% to €2.339bn.

SEMAI, accounting for 11% of total exports is up 5% to €2bn

Asia Pacific, accounting for 8% of total exports are up 25% to €1.4bn

Latin America, accounting for 1% of total exports is up 42% to €224m.

First time that

Exports to the UK have exceeded €6.8bn

Exports to the US have exceeded €2bn.

Reduced dependency on UK and US compared to 10 years ago.

UK exports accounted for 46% of total exports in 2004 compared to 36% of exports in 2014. UK exports have increased by €2.1bn or 47% since 2004.

US exports accounted for 9% of total exports in 2004 compared to 11% in 2014. US exports have increased by almost €1.2bn (€1.16bn)  since 2004.


About the Survey:

The Annual Business Review (ABR) survey measures the sales and exports of Enterprise Ireland clients. It is conducted by Insight Statistical Consulting on behalf of DJEI and Enterprise Ireland. 3,350 clients were surveyed.

For further information contact

Alan Hobbs,
Head of Communications,
Enterprise Ireland

Alan Hobbs
+353 1 7272904
086 8699703