Increase in construction exports positive step towards ending boom and bust

Construction exports have increased by 22% to €1.97 billion over the last year. This increase was the largest recorded by any sector according to Enterprise Ireland.


Director of Communications and Government Relations, Shane Dempsey, stated

“The reason behind this significant increase is the world-class expertise construction companies have gained in the past decade. During the recession, construction products exports associated with Enterprise Ireland clients increased five fold to nearly €2 billion.

The CIF’s top 50 contractors generated an additional €2billion in services exports and this figure is increasing year on year. In other words, the quality and expertise of the Irish construction industry is now sought after internationally.

During the recession, construction companies internationalised as the domestic economy collapsed. We are now seeing a huge dividend in terms of export growth. A key driver of export growth is our expertise in data centre construction. Dublin has about 24% of the entire EU’s data centre market, just 1% behind London. Our expertise in this area and in Mechanical and Electrical and civil engineering for example, is recognised globally.

We will be working with Enterprise Ireland in the coming year to develop an export driven growth strategy for the industry. Expanding into foreign markets is a key step to reducing the boom/bust volatility the industry has been a victim in the past. Today’s figures show there is further transformative export growth potential in construction with a concerted effort from industry and Government.”

 

To read more on this from Enterprise Ireland and to download The Enterprise Ireland Export Performance in Global Markets 2018 report, visit their website here

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