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The Tánaiste today welcomed the release of new CSO figures which show strong growth in Ireland’s export of services. The value of total service exports for the first quarter of 2014 was €22.3bn, an increase of €1.1bn or 5 percent on Q1 2013. The increase was driven primarily by growth in the value of business services exports.

The Tánaiste said:

“I welcome the continued growth in Ireland’s services exports confirmed by today’s figures from the CSO. These figures come against the backdrop of the news that Ireland’s seasonally adjusted GDP grew by 2.7% in the first quarter of the year. Services exports are of fundamental importance to the health of the Irish economy and are the main driver of export growth. In a world where open, globalised economies trade not only in tangible products, but across a wide range of innovative services sub-sectors, Ireland’s reputation as a base for service providers, both international and domestic, is going from strength to strength – from computer services to financial services, aviation services and beyond.

“With our world-leading cluster of cutting edge exporting enterprises and our competitive operating environment, Ireland is the ideal location for companies to establish, support and grow key activities and operations. Services are highlighted as a key sector in the recently published review of the Government Trade, Tourism and Investment Strategy, which my Department coordinated, and in the Government’s Action Plan for Jobs. The continued growth in service exports highlights our vision of Ireland as a European country with a global footprint, supporting jobs in the domestic economy by creating and selling high value goods and services across the globe”.

ENDS

Note for Editors:

Services

Ireland is a strong performer in services exports, which now account for over half of total Irish exports. This reflects the growth in ICT and e-business sectors with a number of Irish services companies and foreign-owned multinationals operating and exporting from Ireland. Ireland is home to the service operations of many manufacturing firms as well as financial services, leasing and computer services firms. Some important services sectors within the Irish economy include: Computer Services, Financial Services, Aviation Services (including aircraft leasing), Creative Services (including film and video production, music and literature, games development and animation), International Education Services and Tourism (which is counted as a services export).