Cork business concerns for international trade challenges

A survey of Cork Chamber members found that 41% of businesses anticipate challenges to growing their international trade this year.

The Economic Trends survey, sponsored by PTSB, measured business sentiment and economic outlook among Cork Chamber members at the end of the first quarter of 2025, which was prior to the announcement of US tariffs.

The survey also took a closer look at international trade and the sentiment of Cork businesses who trade on the global market.

Overall, the outlook for Cork businesses trading internationally was found to be relatively positive in early 2025, although 41% stated that challenges to international trade were expected.

Market uncertainty remains a worry, with 81% of responding businesses expressing some level of concern about geopolitical development and the potential impact on trade.

Reacting to the results of the survey, the president of Cork Chamber Rob Horgan said:

“Although the overall economic outlook remains largely positive, 81% of respondents expressed some concern regarding geopolitical developments and their potential impact on international trade. Ongoing uncertainty around international trade, particularly the prospect of US tariffs on Irish exports, was a source of concern for many in our business community at the time the survey was carried out.” 

Mr Horgan added: “That being said, Ireland continues to benefit from seamless trade links with our European partners. The EU remains a key trading partner for Irish businesses, cited by 46% of respondents as the market they most frequently engage with.

“It is also encouraging to see that 96% of those trading within the EU experience no challenges accessing the Single Market.”

Mr Horgan concluded that despite concerns regarding geopolitical developments among Cork Chamber members, the overall economic sentiment remains generally positive looking towards the second quarter of 2025.

“The results of this edition of the Economic Trends survey also show some concerns among businesses regarding domestic economic threats, such as specialist skills shortages.

“It is vital we mitigate concerns like these as much as possible to maintain Ireland’s competitive edge as we face into potential economic headwinds internationally.”

Full results and previous quarterly economic survey results can be found online at corkchamber.ie.