Market conditions have never been more difficult, but there are areas that can be exploited, writes GERRY MURPHY

INCREASING EXPORTS is essential for Ireland’s economic turnaround. Our export salesmen are the frontline troops for recovery. Market conditions have never been more difficult, with a 10 per cent fall in world trade in 2009, the worst decline in 60 years.

Despite the difficulties, 2010 offers export growth opportunities. The common denominator among the opportunities listed below is that Ireland has companies with the ability to exploit them.

Cleantech

Environmental concerns promise to be a major driver of business development and new technologies in coming years.

The world market for cleantech products and services is growing rapidly. One estimate puts the world market at €1.2 trillion by 2012. The growth is intensifying due to the economic stimulus packages being undertaken across the world, the majority of which fund developments in renewable and other cleantech technologies.

Cybercrime/information security

One of the inevitable downsides of a downturn is crime. For the banking industry, protection against increasingly sophisticated cybercrime is a priority.

Information security technology to counter this threat is set for substantial investment. Research shows that this year expenditure on security will account for 12 per cent of IT spending. The markets are substantial, with the US alone worth €65 billion.

Irish companies in this sector enjoy an important advantage as Europeans norms are among the most stringent in the world.

E-shopping

While consumer spending continues to fall, one sector is expanding. This is internet shopping by mobile phone, particularly in Japan.

The number of Japanese consumers shopping with their mobile phones exceeds 100 million and their total purchases are valued at €11 billion and growing. This globally growing sector creates opportunities for consumer products and services such as e-learning and games.

Building a new kingdom

There is huge potential for growth in the construction sector in the Gulf. In Saudi Arabia, plans have been unveiled for four new universities, 56 colleges, 2,000 schools and 13 hospitals.

Financing has been allocated for an additional 5,000 miles of new roads to go with the 10,000 miles currently being built. The go-ahead is also being given for the development of the country’s ports, airports and railways.

At the heart of the government’s development plan is the construction of economic mega-cities that will utilise the country’s resources while providing employment and homes for its citizens.

Shifts in banking

Against a background of a globally troubled banking sector, one sector enjoying strong growth is microfinancing.

Microfinancing is the delivery of loans and other banking services to those without bank accounts, principally in Africa and Asia. In the developing world, the rapid growth of mobile phones promotes a banking structure using wireless telecoms technology. This opens opportunities for Irish suppliers of accounting and billing products.

Manufacturing services

The international market for the construction and retro-fitting of industrial plants is worth in excess of €200 billion.

Much of this is in fast-growing economies such as China, India and Brazil, where the capital equipment and mechanical, electrical and project-management services are imported.

In this sector, German companies are very successful and command a market share of 20 per cent. Opportunities exist for Irish companies to work as subsuppliers of these services to multinational contractors, where our expertise in developing Ireland’s base in pharmaceuticals and information technology is a strong advantage.

Digital doctors

Just 13 per cent of US doctors use electronic patient record systems. This is about to change as, having recognised the need to modernise, the US government is offering incentives and subsidies worth $20 billion (€13.95 billion) for doctors to adopt electronic medical records systems.

These can include practice management software, insurance claims and scheduling.

Creating healthy foods

The ever-growing concern among consumers of the link between diet and health is increasingly an influence in the development of new food products.

It has given rise to the new product category of “functional foods” – those products that contain ingredients specifically added to confer health benefits. The prime source of such ingredients is milk.

Ireland, with its strong dairy industry and investments in food technology, is well positioned to gain from this trend.

National health services

National health budgets are under pressure due to the downturn and to other factors such as an ageing population. There is a need to generate greater efficiencies.

This will create opportunities for Irish companies providing cost-saving solutions.

The trend has already resulted in business for Irish companies in areas such as communication systems for the emergency services, medical devices and health IT.

Aerospace in China

With passenger numbers growing rapidly, China needs to develop its aerospace sector.

The figures are remarkable: 42 airports and 1,600 aircraft are to be built by next year and another 4,500 aircraft are to be manufactured by 2025.

Both Airbus and Boeing are manufacturing in China. This offers potential for Ireland’s aerospace industry in areas such as components, composites, avionics, training, testing equipment and software.

Gerry Murphy is director of international sales and partnering with Enterprise Ireland