Indigenous companies are now major players in driving the Irish economy, Minister for Enterprise Trade and Employment Micheál Martin said today.
Businesses set up and based in the State are being credited with a huge increase in exports worth more than a €1 billion.
The significant jump is being heralded as a landmark towards a Government-set target of €3 billion of new export sales by the end of next year.
Mr Martin said it was a clear indication that the strategy of State development agency Enterprise Ireland was working and working well.
"Indigenous companies are now centrally positioned as major contributors to our continued economic growth," he said.
Enterprise Ireland today revealed a €1.275 billion export increase in its annual report, published today. The figure was up 7.2 per cent on last year, bringing total exports to €10.7 billion. Investment from the agency assisted the creation of 11,661 new jobs last year.
Against this there was a net fall of 734 jobs among firms the agency supported.
The development agency assists Irish companies breaking into global markets to help increase national and regional prosperity.
Irish companies supported by Enterprise Ireland exported more than €6.2 billion worth of products and services to Northern Europe and €4.8 billion worth went to the UK market.
Asia was the largest export growth market with an increase of 14.6 per cent in exports to €564 million last year.
The organisation today published its annual report, which showed that 75 new firms started business with the agency's help last year.