Food & Drink exports increase by 13% to reach record high of €12.6 billion
Date 01.11.2018 | Category: News
The Irish Minister for Agriculture, Food and the Marine, Mr. Michael Creed TD, has announced that the value of Irish food, drink and horticulture exports increased by 13% in 2017, to reach €12.6 billion for the first time.
Speaking at the launch of the Irish Food Board’s Bord Bia’s Export Performance and Prospects 2017-2018 report, the Minister said “last year marked the 8th successive year of growth for total Irish agri-food exports. The Irish Food Board’s report provides valuable insights into the sectors and markets behind the very welcome 13 percent increase in the value of food and drinks exports to €12.6 billion. Industry, in line with my Department’s market prioritisation strategy, is continuing to diversify, with exports to international markets reaching €4 billion for the first time. Trade with the UK, which remains our most valuable market, has grown in overall terms, despite the difficulty presented by Brexit and a weaker sterling.”
According to the Irish Food Board report, last year’s export performance was driven by a surge in dairy exports to over €4bn (+19 percent), now one third of all food and drink exports.
In terms of yearly growth rates, the dairy sector grew by almost 20 percent to reach €4.02 bln, confirming its position as the number one exporting sector. Within the dairy sector, the value of Ireland’s butter exports rose by a remarkable 60 percent this year alone, to reach €879mln. This growth accounted for over half of the total increase in dairy exports.
The UK remains Ireland’s key export market, however the percentage share of exports to the UK declined by two points to 35 percent of total exports. This reduction disguises the fact that sales still increased for the year by 7 percent to over €4.5bn.
Exports to other EU countries have risen by 16 percent to over €4bn accelerating last year’s growth, mainly driven by strong dairy exports, which rose by over 40 percent to €1.2bn.
Source: Bord BiaAuthor: Sossna