DUBLIN: Asian markets will become increasingly important for Irish exports over the next 15 years to offset the negative impact of Brexit on the Irish economy, research shows.
A trade forecast published by HSBC and Oxford Economics predicts significant growth in trade between Ireland and countries such as China and Vietnam over the next decade and a half.
HSBC predicts that the fastest-growing export destination for Ireland between now and 2030 will be Vietnam, followed by China, India and Malaysia. Together, these countries are expected to account for about 40 per cent of the growth in merchandise exports.
The pharmaceutical sector will continue to underpin Irish export growth and contribute about 60 per cent of the total growth in Ireland’s merchandise exports.
