Irish firms will have generated €1 billion in new export sales by the end of the year, State development agency Enterprise Ireland (EI) claimed yesterday.
The figure is flat compared to 2006 and EI boss Frank Ryan admitted that export activity this year was "tempered by a more challenging economic environment".
"Increased international competition in many overseas markets, moderating global growth, fluctuating exchange rates and the international credit crisis combined to make the international trading environment much more difficult," said Mr Ryan.
EI's end-of-year statement confirms that it has met or exceeded all its key targets for the 2005-2007 period covered by its last strategy document. In October it published Transforming Irish Industry, its strategy document for 2008-2010.
That document sets a target of new export sales of €4 billion for the three-year period - again broadly static on what was achieved in the last three-year period, when €3.9 billion in exports were generated by Irish firms.
The target set for exports in 2005 was €3 billion.
EI has supported 221 start-up companies compared to a target of 210.
At 344, the number of firms that received approval from the productivity improvement fund, which supports investment in new technology and training, exceeded the target of 300.
At 619 and 43 respectively, the number of firms investing over €100,000 and €2 million annually in research and development was also slightly ahead of targets.
China, India and Japan are three of the key markets that EI has earmarked for future growth.
But according to Liam Shanahan, chairman of the Irish Exporters Association's (IEA) Asia Trade Forum, merchandise exports to Asia only increased by 1.5 per cent in the last three years despite the fact that the Asian market has been growing by just under 14 per cent in recent years.
The IEA yesterday launched its Asia/Pacific Strategy 2008- 2010, which calls for new structures to facilitate intelligence sharing between business and the State.
While acknowledging IDA Ireland and EI's "excellent" networks in the region Mr Shanahan called for "more in-country specialists" to be appointed.
For its part the IEA has added directors in Australia, Indonesia, Malaysia, Singapore, South Korea, Taiwan and Thailand.
