With the Euro-Sterling exchange rate 7.6% below the monthly average of last year , and the Euro-Dollar exchange rate 7.9% below last year’s average, the Irish Exporters Association stated that “the euro’s sharp slide should provide a welcome boost for Irish exports”.

This currency variation on its own, in monetary terms, equates to an addition €1 Billion of exports to the UK and an additional €1.7 Billion to the US.

However, John Whelan, CEO of the Irish Exporters Association, said that a boost in Irish Exports needs to be facilitated…

80% of Irish Exporters forecast an increase in exports in 2012. Optimism and confidence is very upbeat amongst exporters, according to the Irish Exporters Association annual survey.

However Irish Exporters are still extremely concerned but the high comparative cost base in Ireland and have identified labour costs as their number one concern.

In regards Europe, 90% saw no benefit in leaving the Eurozone and in regards finance an impressive 50% financed exports through their own funds. 25% of companies surveyed experienced problems with Ireland’s banking sector but on the other hand 72% stated that they experienced no difficulty…

John Whelan, chief executive of the Irish Exporters Association welcomed the Foreign Earnings Deduction scheme, announced in yesterday’s budget, aimed at increasing Irish exports into BRIC markets (Brazil, Russia, India, and China).

He also stated that “This is one of the most export promotional budgets we have seen for decades and will go a long way to assisting exporters develop new products."

Irish Exports grew 6.3% in 2010, are expected to grow 7% in 2011 and are projected to grow 5% annually between 2012 and 2015, according it the Irish Exporters association in its pre-budget press release.