Figures from the Irish Exporters' Association show that the value of goods and services exported in the third quarter of this year was €40.4 billion, an increase of 9.3% on the same period last year.
The association's CEO John Whelan said exports of goods rose by 12.8% to €22.9 billion, as growth broadened out across most of Ireland's main trading partners. Export growth for services was a more modest 4.9% after a strong start to the year.
The IEA says total exports for the first nine months of the year are 4.4% ahead of a year earlier, and it has raised its forecast for the full year to 5.8% growth.
Mr Whelan said the euro's average exchange rate against the US dollar in the period was 10% below the same period last year, helping Irish manufactured goods exports to the US to jump by 32% in value.
Mr Whelan said the euro-sterling exchange rate also weakened compared with the third quarter of last year, helping exports to the UK to rise at an annual rate of 4%. But he warned that a return to sterling weakness in October could claw back the gains made in the third quarter.
The IEA report shows strong growth in the agri-food sector, with export sales rising at an annual rate of 14%. The largest export category - chemicals and phamrmaceuticals - grew by 22%, while medical devices exports jumped by 38%.
It says exports to the BRIC countries (Brazil, Russia, India and China) rose at an annual rate of just 2% in the third quarter.
'As these economies did not go into recession and have been growing very rapidly through 2009 and on into the first nine months of 2010, the growth in Irish merchandise exports must be seen as below potential and indicate a loss of market share,' the IEA warned, adding a new trade strategy for Asia was urgently needed.
