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Irish Exports not what they are cracked up to be

This is a very good piece of analysis by ‘Ireland After Nama’ putting some figures on the Irish export boom.  For Pharma at least, the devil is in the detail.  It concludes..

..The recent growth in Irish pharmaceutical exports has not been job-less, it has been job-shedding. At least in the context of the pharmaceutical industry, the Government’s export-led recovery strategy may be problematic. In this sector, in the short term, increased exports are unlikely to lead to significant number of new jobs. Without new jobs, there will be no boost to consumption, no boost to the domestic sector, and no boost to income tax. Pharma is, of course, a specific case. The increasingly important internationally traded services sector may lend itself better to the export-led recovery plan.  (link to article)

Posted in News, Resilient Investment.