DUBLIN: Irish food and drink exports increased by 4% to reach a record high of almost €10.5 billion in 2014. In Bord Bia’s Export Performance and Prospects Report, Aidan Cotter, its Chief Executive, outlined the background to the fifth consecutive year of export growth for the food and drink industry.
He said that, in 2014, exports grew by 4%, representing an expansion of 45% or €3.2bn since 2009. The strongest performing sectors were dairy product and ingredients which exceeded the €3bn mark (+3%), prepared foods (€1.8bn, +8%) and seafood (€540m, +8%).
Cotter highlighted the significant shift in the destinations for Irish exports in 2014 with international markets showing renewed growth, reflected in a 15% increase in trade to stand at €3bn or 29% of total food and drink exports. “The industry’s drive to broaden export reach to destinations outside of the EU is paying dividends with growth in emerging and international markets now driving export figures, offsetting the limited growth in our established premium EU markets” he said.
This shift in market destination was marked by increases in the value of exports to Asia to reach €850m (+45%) as well as significant increases to North America (€740m, +18%), the Middle East (€330m, +11%) and Africa (€610m, +9%). Within this, China recorded a further increase of almost 40% to reach approximately €520m. China is now Ireland’s second largest export market for dairy, compared to 13th in 2008.
While it remains Ireland’s most significant export market, the share of exports destined for the UK eased slightly though the value showed little change at €4.2bn or 40% of export share. Stronger export values for beverages, prepared foods, mushrooms and poultry helped offset lower beef and dairy values.
