Oireachtas Joint and Select Committees

Wednesday, 3 July 2024

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Engagement with the Department of Enterprise Trade and Employment

10:00 am

Photo of Peter BurkePeter Burke (Longford-Westmeath, Fine Gael) | Oireachtas source

First, Enterprise Ireland has achieved a record level of exports. There are approximately €34.5 billion of exports, of which 71% are outside the UK market. If we look broadly at where they are coming from, we can see steady growth in the eurozone region. Germany in particular has grown by double figures. It is up 14%. We are steadily growing our export market. We have seen significant inroads in terms of new companies coming into the marketplace and exporting. Enterprise Ireland has met its growth targets for exports. There was some pressure in the food and dairy sectors, but we are working to resolve that. We have the Food Vision strategy up to 2030 with the Department of Agriculture, Food and the Marine.

We are encouraging many new enterprises to work and invest in innovation through our research, development and innovation tax code. The new tax credit has gone up to 30%, and there has been an increase in the first payment instalment for pre-authorisation. The future is very bright for exports. We have seen steady growth in many areas. Post Brexit, it is very interesting to see the UK market grow by about 6%. We are talking about €9.97 billion in value. That is steady growth.

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