Most Irish manufacturers confident their businesses will grow

Ibec, the group that represents Irish business, today said Ireland should support an ambitious EU trade agenda which promotes trade at multilateral and bilateral levels and that the Government should back businesses efforts to better anticipate risks and minimise exposure to supply chain shocks.

Ibec made the call during the Government’s Logistics and Supply Chain week, which runs until Saturday. It also called on the Government to consult closely with the private sector in any efforts to advance national security interests and enhance open strategic autonomy. Ibec welcomes the opportunity to contribute to the Expert Group on supply chains being established by the Government to identify global opportunities and threats for Irish business.

According to a recent survey of Ibec manufacturing members, managing supply chains was a leading priority among CEOs heading into this year. Transportation and logistics were identified as major challenges for 62% of members, while the cost and availability of raw materials were identified as major challenges for 77% and 68% of members, respectively. These results highlight the significance of logistics and supply chain management for the Irish manufacturing sector.

Marking Logistics and Supply Chain Week, Sharon Higgins, Executive Director, Membership & Sectors at Ibec said: “Irish manufacturing is a huge success story. There are 260,000 people employed in the Irish manufacturing sector, accounting for over 12% of total employment in the economy. Irish manufacturers now employ over 60,000 people in the US and 21,000 people in the UK and while Ireland is only 1% of EU’s population, we account for 5% of its manufactured goods exports to the broader world.”

“The sector is remarkably resilient, especially considering the supply chain shocks of recent years in the form of Brexit, the pandemic and the war in Ukraine. It is vital, however, that this resilience is not taken for granted and the proper supports are put in place for both the indigenous and multinational manufacturing sector. That is why we are calling for the implementation of our recommendations during this week of events designed to promote careers and educational opportunities in the Irish logistics and supply chain sector.”