International Markets Week is Ireland’s largest exporter event and will see more than 700 companies meeting 140 market advisors from 40 overseas offices in 2,000 individual virtual one-on-one meetings.
Speaking at the official launch of International Markets Week, Minister of State for Business, Employment and Retail, Damien English, TD, said: “Now more than ever, it is important to assist Irish companies increase their presence in existing markets and expand into new ones. The exporting sector will continue to be a strong engine for growth and jobs in the Irish economy as we rebuild after the pandemic. I’m heartened to see that over half of companies expect to grow their exports next year and that 83% expect to hire new staff. This is a testament to the resilience and adaptability of Irish business owners.
“Irish business is facing two major challenges – to recover from the impact of Covid-19 and mitigate any disruption to trade from the impending Brexit deadline. The Government has provided targeted grants and advisory services to address both these vital issues through our agencies, including Enterprise Ireland and I would urge every exporting company to seek advice and support now.”
A survey of Enterprise Ireland client companies attending this year’s International Markets Week showed contrasting fortunes for Irish exporters in 2020
- 1 in 3 exporters saw export sales decline in 2020
- 57% expect outlook to improve in 2021 and to increase jobs
- 85% expect Brexit to add up to 10% to cost base
While one in three saw their exports decline, some sectors, such as Lifesciences and Digital, saw export sales grow by 30%.
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Enterprise Ireland statistics show that export contracts signed by supported clients also fell 10% between January – September this year, compared to the same period last year.
Despite the impact of Covid-19, and the approaching Brexit deadline, many Irish exporters remain resilient and optimistic. According to the survey results:
- 57% expect to grow their exports in 2021
- 83% intend to hire new staff in 2021 and
- More than eight in ten exporting companies are either confident or very confident about the international trading environment in 2021.
Source/Image Credit: Enterprise Ireland
Photo: Enterprise Ireland's International Markets Week, officially launched on October 05,2020 by Minister Damien English T.D.