| Top five IFSC exporters listed in The Top 250 Exporters in Ireland and Northern Ireland list with aggregate sales of €7.5 billlion |
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September 21st 2015: The 2015 edition of The Top 250 Exporters in Ireland and Northern Ireland, launched today by Jobs Minister Richard Bruton, shows stellar growth in the manufacturing and services sectors with the value of exports from the top five exporters increasing by 23.5% on the previous year. Microsoft’s export turnover increased by 21%, from €15 billion in 2014 to €18.2 billion in 2015. Microsoft was followed by Google Ireland Ltd with export turnover of €17bn, Medtronic Ireland (3rd, export turnover of €16.7bn), Johnson & Johnson in Ireland (4th, export turnover of €10.5bn) and Ingersoll Rand plc (5th, export turnover of €9.8bn).
The report is published by the Irish Exporters Association (IEA), in association with Investec, a leading specialist corporate bank. |
The report also identifies the top IFSC companies by sales in the latest year in a Review of the IFSC
The Top Five IFSC companies by export sales in the list are:
1. Hannover Re (Ireland) €1.9 billion
2. Aareal Bank AG €1.65 billion
3. Citibank Europe plc €1.58 billion
4. Depfa Bank €1.25 billion
5. Canada Life International €1.2 billion
John Cronin, Banking Analyst with Investec, and author of the independent report on the IFSC, said, “The Irish Financial Services sector has now grown to become a material contributor to Irish economic performance and is an important factor in the context of the 3.3% current account surplus. Indeed, the sector now employs 35,000 persons directly and supports many further indirect jobs".
He said "the scale and impact of the sector continues to increase year-on-year as evidenced by an almost doubling of employment between 2004 and 2014 from 20,000 to 35,000. This level of growth will surprise many given the expansion in employment occurred during an unprecedented banking crisis. It is Investec’s view to expect continued rapid growth in this sector driven by a combination of factors including Ireland’s location advantage, the competitive corporate tax rate, the well-educated English-speaking workforce, and the robust legal and regulatory framework. This view is echoed in the Government’s IFS2020 strategy which envisages the creation of 10,000 further jobs in the sector by 2020.” |
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