Exports are up 23 per cent over the last 12 months in Ireland

by Joao Luiz Ferreira

 

Imports of goods from Britain to the Republic staged a minor recovery in September, easing the rate of decline to 21 per cent for the first nine months of the year.

However, the latest trade figures from the Central Statistics Office (CSO) figures show that Brexit continues to have an impact on Irish-British trade.

While imports from Britain have plunged, the value of goods exports from the Republic to Britain for the first nine months of 2021 is running up 23 per cent compared to the first nine months of 2020 and stands at €10.6 billion.

While goods imports from Britain edged up 2 per cent – a €35 million rise – in September compared to September 2020, exports from the Republic to Britain surged 36 per cent – an increase of €374 million – in the same month.

After dropping to just 7 per cent in August, exports to Britain accounted for 10 per cent of total exports from the Republic in September. The main changes in the month were increases in the export of chemicals, machinery and equipment.

Imports from Britain rose as a result of higher imports of mineral fuels, lubricants, chemicals and other related products, offsetting a drop in the value of imported food and live animals, as well as machinery and equipment. British imports for the first nine months stand at a value of €9.4 billion, down more than €2.4 billion year-on-year.

Meanwhile, imports from Northern Ireland continue to soar this year. In the first three quarters of 2021, they are up by more than €1 billion, a 60 per cent increase compared to the same period in 2020, at just above €2.8 billion.

Exports from the Republic to the North are also booming, up 48 per cent or €835 million at €2.58 billion for the first nine months.