Belfast Telegraph

Friday 25 July 2014

Republic's export growth to slow

The Republic has made good progress under its bailout but faces a new challenge as export markets weaken significantly, according to a new report.

Export growth will slow next year according to a report from the Organisation for Economic Cooperation and Development (OECD).

It said the Republic was set to suffer because of a 'worldwide loss of confidence' and slower growing world trade.

It expects exports from Ireland to increase by 3.3% next year compared to 4.2% this year.

Exports would remain the only hope of a return to growth because domestic demand would continue to fall over the period, they said.

The latest report on the Republic's economy was published as part of the Paris-based OECD's damning report into economic activity in the eurozone group of countries.

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