Annual Business Survey of Economic Impact 2016

Posted on: May 15th, 2017

EILaunch

Growth in exports to the UK slowed from 12% in 2015 to 2% last year in companies supported by state body Enterprise Ireland according to research conducted by Insight Statistical Consulting.

Overall sales globally grew by 6% last year to €21.6 billion.

“The fact that the growth of exports to the UK have slowed suggests that the impact of Brexit on Irish companies has already started,” commented Julie Sinnamon, the chief executive of Enterprise Ireland.

The slowdown in growth to Britain was largely caused by a small decline in food exports.

Sales to UK have also been affected by a drop in sterling.

While the volume of goods sold to the UK is up, the amount of money exporters received fell due to the drop in sterling. The British pound dropped significantly after the Brexit referendum last June.

More information below…

https://www.rte.ie/news/business/2017/0515/875264-enterprise-ireland-annual-review/