Irish exporters in 2024 are facing a challenging landscape influenced by both domestic and global factors. The period of strong growth in exports and investments is transitioning to a phase of slowdown, primarily due to global economic conditions. This has led to a decline in goods exports and a decrease in investment rates.

Inflation remains a significant concern, exacerbated by the conflict in Ukraine affecting food and energy markets. The European Central Bank's indication of rising monetary policy rates is expected to dampen investment and consumer spending.

The export sector shows particular weaknesses, especially in multinational-dominated sectors like pharmaceuticals and technology. The slowdown in exports is attributed to reduced demand post-COVID-19 and trade tensions.

Additionally, competitiveness issues are arising due to government-imposed costs in labor market taxes, entitlements, and regulations. These factors contribute to a projected increase in labor costs, potentially impacting Ireland's export competitiveness.

Overall, Irish exporters are navigating a period of increased pressure and potential restructuring, influenced by global downturns, inflation, sector-specific challenges, and national competitiveness concerns.