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Exports boost for manufacturing in Ireland

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There was a marked rise in new export business during March, according to the latest Purchasing Managers’ Index (PMI) for the sector.

An economist with specialist bank Investec,said:

“More than twice as many firms reported growth in new export orders as against those whose experienced a contraction in demand.”

The UK accounts for more than 40pc of exports for Irish-owned firms.

Research found that diversifying export products and markets plays a major role in causing growth for domestic firms. Most exporters sell a small number of products to few markets, with almost half of Irish manufacturing firms exporting fewer than five products.