Irish food and horticulture board Bord Bia has revealed its Export Performance and Prospects report for 2023-24, in which it details how Ireland made €16.3 billion (£14.1 billion) in food, drink, and horticulture exports in 2023.

According to the report, an estimated €5.6 billion (£4.8 billion) in food and drink exports constituted a 34% share of total exports, with the UK being Ireland’s largest export destination.

Packaged Consumer Food (PCF) exports increased from €1.9 billion (£1.6 billion) in 2022 to €2 billion (£1.7 billion) in 2023, with beef exports valued at €1.3 billion (£1 billion) in 2023, up from €1.1 billion (£946 million) in 2022.

The report stated that expectation for growth in 2024 is positive, with over 73% of companies expecting to see some expansion, and only 10% concerned that the outlook is towards contraction. Of the companies surveyed by Bord Bia in 2023, a number of them indicated “stable” export revenues in the year to come.

Donal Denvir, Bord Bia’s director UK, commented: “Despite market challenges, Ireland’s food and drink industry, bolstered by a strong UK partnership, continues to perform well. Our industry stands out as a resilient and unwavering source of food and drinks our UK partners continue to benefit from.”

However, Irish dairy exports were valued at €1 billion (£860 million) down from €1.2 billion (£1 billion) in 2022, as Bord Bia highlighted that the impact of inflation, cost-of-living concerns and “downward pressure” on trade prices have resulted in a decline in export values across various sectors.

Additionally, Irish horticulture and cereal exports were valued at €273 million (£233 million) down from €281 million (£241 million) in 2022, with Bord Bia stating that the industry remains “undeterred”. The board noted that despite reduced volumes, there was an increase in sales value, notably driven by mushrooms, which comprised nearly 50% of the total export value.