Industry & Business

Manufacturing Sector Represents Almost a Third of the Irish Economy

 Breaking News
  • ASAI Issues New Guidelines For Advertising Mobile Phone and Broadband Services The Advertising Standards Authority for Ireland (ASAI), the independent self-regulatory body committed to promoting the highest standards of marketing communications in Ireland, has introduced new guidelines relating to the advertising of mobile phone and broadband services. The guidelines will complement the existing ASAI Code in ensuring that certain marketing terms used by telecommunications operators convey [...]...
  • Sustainable Apartment Living For Ireland A new report on sustainable apartment living in Ireland was launched by the Housing Agency and Clúid Housing. Amongst some of the reports findings and research were that apartment living has increased in the last few years and according to the report, the number of apartments in Ireland has increased by 85% between 2002 and [...]...
  • Brand New Campaign Showcasing Ireland’s Food and Drink Starts Fáilte Ireland’s Taste the Island campaign has gone live with a brand-new TV ad encouraging domestic holidaymakers to take a short break in Ireland to enjoy some of the 700+ food and drink related experiences on offer across this September, October and November. Taste the Island is a 12-week celebration of Ireland’s seasonal ingredients, adventurous tastes [...]...
  • Enet Expands its Data Centre Connectivity Portfolio Across Dublin Enet, Ireland’s largest wholesale, open-access network provider, has added six more data centres across Dublin to its national network. The additional data centres allow it to offer more options when it comes to dark fibre and managed bandwidth to its customers, and will result in increased connectivity for consumers. Enet is now connected to 25 data [...]...
  • ACCA and Bank of Ireland Issue Warning Amid Foreign Currency Fluctuations Many Irish companies that deal in foreign currency are exposing their businesses to significant and unnecessary profitability risks due to a lack of consideration of appropriate hedging within their organisations. That’s the message from the Association of Chartered Certified Accountants (ACCA) and Bank of Ireland who have launched a new programme to support businesses in [...]...

Manufacturing Sector Represents Almost a Third of the Irish Economy

Manufacturing Sector Represents Almost a Third of the Irish Economy
January 21
15:33 2019

The Irish manufacturing sector employs over 250,000 people and accounts for 32% of Ireland’s GDP – significantly higher than the European average of 15% and Germany at 21%, according to Martin Shanahan (pictured), CEO of IDA Ireland. Manufacturing also plays a key role in helping to address the regional imbalance in the Irish economy with more than 80% of operations outside of Dublin.

Martin Shanahan was a keynote speaker at the recent National Manufacturing and Supply Chain Conference & Exhibition, held at the Citywest Convention Centre in Dublin. His presentation was entitled ‘Importance of Manufacturing to the Irish Economy’.

The Irish manufacturing sector is characterised by a wide diversity of activities and “Ireland punches well above its weight in supplying international markets,” he pointed out. “Ireland is globally recognised as an innovation hub across many sectors.”

Indeed, the Irish economy has been the fastest growing in the Euro zone for the past four years and employment at 2.25 million is currently at record levels. Ireland’s strong economic track record, political stability and talent base are all important factors in attracting FDI.

However, the disruptive changes generated by the unfolding fourth Industrial revolution (Industry 4.0) create both challenges and opportunities for Irish industry. “There is an opportunity for Ireland to be a global leader in advanced manufacturing,” he said, “but Irish companies must evolve and adapt new technologies and skill sets.”

To take advantage of this opportunity, the IDA is encouraging greater interplay between multinational and indigenous companies. To plug a significant gap in Ireland’s industrial infrastructure, an Advanced Manufacturing Centre is planned for Limerick, which will provide “a collaborative environment focused on core technologies,” Martin Shanahan explained. “The investment will complement existing investments.”

The IDA Ireland head continued: “The State must continue to invest in advanced manufacturing technology.”

Brexit also provides opportunities and threats. IDA Ireland has been successful in securing a substantial number of Brexit-related investments with 55 companies choosing Ireland entailing 4,500+ associated jobs. However, he urged Irish business to prepare for the worst case scenario. “Planning should be based on a ‘no deal’ Brexit as it is still a distinct possibility,” he warned.

About Author

admin

admin

Related Articles

New Subscriber

Subscribe Here



Advertisements





















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4