Manufacturing production rose 4% in November when compared to the previous month, according to the Central Statistics Office.

The “modern” sector, which would include high-tech and chemical sectors, grew by 9.3% in the month, while the “traditional” sector declined by 4.4%.

On an annual basis, production from manufacturing industries was 33% higher in November, according to the CSO.

In the three months to November alone the sector grew by 14.8%, it said.

Alan McQuaid, economist at Merrion Stockbrokers described the figures as strong and said they highlighted the importance of foreign direct investment to the Irish economy.

He said demand for Irish goods should increase in the year ahead, as global economic growth begins to pick up speed and the euro remains at a lowered price against the dollar.

"Ireland is better placed than most to take advantage of an upturn in the world economy, he said.

"The industrial output figures are also now clearly fitting better with the Irish manufacturing PMI, which has been in expansionary territory for the nineteen months up to December."

Mr McQuaid said they now expect manufacturing output to be up 23% in 2014 when compared to the previous year, with double-digit growth anticipated for this year as well.

Though he said it was crucial that there was a continued emphasis on the country's competitiveness as any slip in this would affect such growth.