Ireland’s trade is set to grow by over 76% up to 2026 with Irish companies set to increase trade activity over the next 15 years by 3.16% a year.
HSBC has announced the possible trends in their report ‘Global Connections Trade Forecast’.The report stated that international trade growth will accelerate from 2014 as the global economy ends a period of contraction.
It predicts trade growth of 86pc from 2012 to 2026, which will take total trade activity in 2026 to $53.8trillion(€40.6tn) compared to a predicted $28.9billion(€21.8bn) for this year.
The report says that Ireland’s trade growth will be fuelled by the chemicals and pharmaceutical sectors, with especially strong growth of ”blood products” exports to Germany.
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