97% of Irish exporters expect to expand into new markets in the next 12 months despite global trade challenges – Enterprise Ireland survey
In 2024, Enterprise Ireland client companies achieved exports of €6.66 billion to the US (+8% year-on-year), accounting for 18% of total exports. Exports to the European Single Market grew by 8% to €10.63 billion, surpassing the UK (€10.52 billion, +4%) for the first time, making the European Single Market the largest export region for Irish companies. A recent survey of client companies by Enterprise Ireland shows that 97% of exporters plan to expand into new international markets in the next 12 months. Other results from the survey include:
- 66% expect export sales to increase in 2025, with a further 93% anticipating growth in 2026.
- Eurozone remains the top target region, followed by the UK and the USA.
- By sector, 70% of Technology & Services companies expect exports to increase in 2025, compared with 60% of Industrial & Lifesciences firms.
- 98% of companies are taking steps to improve competitiveness overall.
- Nearly nine in ten (87%) are already integrating or planning to integrate AI into their business operations, with two-thirds believing AI and digitalisation will be critical in winning future international business.
Global environment and US tariffs
The top three challenges identified by client companies for the next 12 months are:
- Global uncertainty (regulation, tariffs)
- Cost of doing business
- Staffing and retention.
On US tariffs, companies are split: 49% expect a negative impact, 51% do not. The most common strategies being adopted include diversification into new markets, securing new customers, and reviewing supply chains.
Minister for Enterprise, Tourism and Employment, Peter Burke TD, said: “While Irish businesses are navigating trade policies changes, there is growing reason for optimism, and this is reflected in the results of Enterprise Ireland’s IMW survey. It is encouraging to see that in response to geopolitical volatility, many Irish companies have accelerated their digital strategies and are expanding into new markets. These changes will enhance the productivity and competitiveness of Irish SMEs.
“International trade is vital to Ireland’s economic success, and the Government’s Action Plan on Market Diversification sets out clear steps to support our exporters. Through Enterprise Ireland, we have introduced new supports, including the Market Research Grant and the New Markets Validation Grant, to help businesses adapt.”
Enterprise Ireland CEO, Jenny Melia, said: “The optimism and ambition shown by Irish exporters this year, and their plans for 2026, is hugely encouraging. Almost every company we surveyed is taking action to strengthen competitiveness, and many see AI and digitalisation as key assets in winning new international business.”
Enterprise Ireland supports
In August, Enterprise Ireland launched two new supports in response to US tariffs:
- Market Research Grant – up to €35,000 for tariff impact assessments and mitigation strategies.
- New Markets Validation Grant – up to €150,000 to develop entry strategies for new markets or products.
These complement Enterprise Ireland’s full suite of competitiveness and innovation supports, helping Irish exporters to mitigate risks, protect jobs, and pursue growth in the US and beyond.
