Irish Economy: Only 50,000 Irish direct workers
are responsible for 69% of annual Irish exports, based on the headline total
value of €164bn for merchandise and services exports in 2011.
Exports also provide indirect jobs but with a
workforce of about 2m, including the unemployed, the fact that only 2.5% are
working in exporting firms, is a signal that rising headline export figures may
have little impact on employment. About 40 companies are mainly responsible for
the 69% slice of headline exports.
Politicians of course use positive data as
bragging material and some economists also do not look beyond the headline
figures. The services export data is even more startling.
About 9,500 direct Irish-based workers were
responsible for €58bn of services exports in 2011 - - 73% of total (Aviation
leasing, Google, Microsoft, Apple, Dell, Oracle and Facebook).
Dan O'Brien, economics editor of The Irish
Times, has an analysis on Irish exports in today's edition:
Are exports about to drop?
Finfacts analysis on exports:
Irish Economy 2012: At least a third of value of
Irish services exports is overstated
Access to original research material on
Finfacts Premium here:
Ireland's jobless exports surge since 2000
Check out our new
subscription service, Finfacts Premium
, at a low annual charge of €25 - - if
you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to
support the service.
It's a simple fact that in the
prevailing economic climate, the provision of high quality content cannot be
sustained through advertising alone.
Business executives who put a
premium on time and value high quality information, should use our service.