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EI-backed firms exported €11.7 billion

Enterprise Ireland - Asia shows biggets growth
Enterprise Ireland - Asia shows biggets growth

Irish companies supported by the state agency, Enterprise Ireland, had €11.7 billion export sales last year, a 12.1% increase on 2005.

The organisation published its 2006 annual report today which showed a €1.69 billion increase in new export sales with 1,261 more people employed in EI supported companies.

Exports from the software, services and emerging sectors grew 16% to €1.437 billion, and exports in the industrial and lifesciences markets rose 11.9% to €2.493 billion.

Food and retail continues as Ireland's largest export sector, with €7.849 billion in sales, up 11.4% on 2005.

Northern Europe continues as the largest market for EI client companies, with €6.7 billion in exports, a 10.6% on the previous year.

Within Europe, the UK remains the largest export market, and increased by 9.4% to €5.2 billion last year.

The biggest sales growth was in Asia, with a 24.1% (€654m) rise in export sales. Exports to the US rose 12.5% to €1.29 billion.

CEO Frank Ryan said EI made substantial progress last year across each of its targets in the 2005-2007 strategy and it is well positioned to deliver on all of its three-year strategic targets this year.

The annual report showed that 284 companies secured first-time international sales contracts last year.

New Enterprise Ireland overseas offices were opened in India, Canada and Brazil last year.

Last year there were 194 in-company R&D projects approvals involving €52.9m of EI support and it supported the establishment of 76 'high potential' start of companies from a wide range of ' knowledge intensive sectors'.