FinTech, Aviation and MedTech sectors lead Irish export sales to the Middle East, Africa and India
New record figures published by Company Ireland, the Irish government agency for trade and innovation, show that Irish exports to the Middle East continue to grow significantly across most sectors. Exports from the companies it supports rose 18% to a record €1.45 billion last year to the wider India, Middle East and Africa region. Latest statistics add to record year for Enterprise Ireland globally, with 2021 being the highest level of growth ever for Enterprise Ireland-backed businesses in export value at €27.29 billion Last year.
Conor FahyRegional Director for the Middle East, India and Africa at Enterprise Ireland, said: “In our focus markets in the Middle East, we continued to see strong export growth, with Saudi Arabia increasing by 13 % YoY, UAE up 7%, and Qatar up 16%. We are also seeing greater interest from Irish companies looking to expand their international export markets and are looking to increasingly to the Middle East as part of their market diversification and growth plans.
Irish businesses are finding success in the marketplace, with local partners promoting Irish innovation in a variety of sectors. Strong export figures were seen across all sectors, including FinTech, Aviation and MedTech, marking the highest level of growth ever for Enterprise-Ireland-backed companies such as daa International, Aerogen and Hanley Energy.
Companies supported by Enterprise Ireland such as from International have a great impact in the region. daa International offers a range of airport operational management services around the world, including the operation of Terminal 5 at King Khalid Airport in the Saudi capital, Riyadh. Recently, the company also won a multimillion-euro contract to manage Jeddah airport in Saudi Arabia for the next five years. The company also won the contract for Red Sea Development Company, the developer of the Red Sea project, a unique and luxury tourist destination in Saudi Arabia.
Earlier in 2022, Dubai’s Roads and Transport Authority (RTA) signed a Memorandum of Understanding with Enterprise Ireland to bring Irish innovation and best practice to Dubai’s transport sector. With the aim of promoting economic and commercial relations between the United Arab Emirates and Ireland, the agreement opens the door to a strengthening of existing Irish companies focused on the Middle East market.