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Customs Clearance ACA Brexit

NI – Ireland exports ‘worth €5bn in 10 months’

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Customs Clearance ACA Brexit

Customs Clearance ACA Brexit – exports and imports woth 5bi

New official figures suggest that exports from NI to the Republic of Ireland were worth almost €5bn (£4.2bn) in the first 10 months of 2021.

 

The figures are published by the NI Statistics and Research Agency (Nisra) and are based on HMRC data.

HMRC already produces quarterly data for NI and other regions but the new figures are not directly comparable.

The new figures only cover international trade, not transactions with other parts of the UK.

They show that Ireland is overwhelmingly Northern Ireland’s single biggest export market: exports to the rest of the EU were worth €3.6bn in the same period while exports to the rest of the world were worth £1.1bn.

Different Nisra data shows the rest of the UK is Northern Ireland’s biggest external market with sales there of just under €11bn in 2020.

The new figures also show that imports from Ireland were worth €2.7bn in the first ten months of 2020, €2.3bn from the rest of the EU and £2.4bn from the rest of the world.

The figures suggest pharmaceuticals are the most valuable trade category with Ireland; exports were worth €735m in the 10-month period with imports of €346m.

The trade impacts of Brexit and the Northern Ireland Protocol are still emerging and have political as well as economic implications.

Since the Northern Ireland Protocol began operating in January 2020 it has become more difficult for businesses in either part of Ireland to import goods from Great Britain.

Northern Ireland has remained in the EU’s single market for goods, which means that products arriving from Great Britain are subject to new checks and controls.

There is so far no official data to quantify the impact of that change.

If you are planning to trade goods to or from Ireland, Aca International Ltd  may be able to help you! Visit our website and follow our Facebook and Linkedin Pages.

Source: www.bbc.com

Customs Clearance News - UK and Ireland

Taoiseach and Johnson in ‘positive’ NI Protocol talks

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Customs Clearance News - UK and Ireland

Customs Clearance News – UK and Ireland positive meetings

The Taoiseach told a Fianna Fáil party meeting last week that he had a positive engagement with British Prime Minister Boris Johnson.

 

Micheál Martin said the focus is on the resolution of the outstanding issues around the Northern Ireland Protocol.

Ensuring Northern Ireland has access to the single market with minimal checks is important, he said.

The Taoiseach said there was a genuine willingness on the EU side to resolve this through negotiation.

“During our call, I told him it remained my view that every effort should be made to secure a successful outcome to the current EU/UK negotiations.”

Since leaving the EU last year, Britain has delayed the introduction of some checks that were designed to avoid the need for a hard border on the island of Ireland.

Downing Street said the checks are disproportionate and threaten Northern Ireland’s 1998 peace deal.

A spokesperson for Boris Johnson said the British Prime Minister “raised his ongoing concern about the substantial distance between the UK and EU positions” on issues with the protocol when he spoke to Micheál Martin today.

However, the Minister for Foreign Affairs, Simon Coveney, said he believes there is a “window of opportunity” for Britain and the European Union to reach agreement on Northern Ireland trade rules.

“I believe … there is an opportunity before us now to seize momentum towards agreeing a constructive way forward through compromise and partnership,” Mr Coveney told the Seanad Brexit committee.

“I believe the remaining issues can be resolved,” he said. “However, to do so we need to get a much more positive, a much more stable and much more trusting EU-UK relationship.

“We have some way to go to get there.”

Mr Coveney told the committee that Northern Ireland was better off with the protocol.

“Northern Ireland has this unique opportunity to access a very large UK single market, but also a much larger EU single market.

“There is potentially a pull factor into Northern Ireland in terms of foreign direct investment – if the protocol was stable and predictable you could access both markets from Northern Ireland.”

Asked to give an update on the current negotiations, Mr Coveney said there had been a “change in tone” from the UK two weeks ago.

He added: “This certainly suggested to the EU that negotiation was worth investing in, because before that really the negotiations were going nowhere.

“I am more hopeful than I have been.”

He added: “There’s still quite a big gap between the two sides, but at least the negotiations are focused on trying to find landing ground.”

If you are planning to trade goods to or from Ireland, Aca International Ltd  may be able to help you! Visit our website and follow our Facebook and Linkedin Pages.

Source: www.rte.ie

 

Customs Clearance exports are up

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

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Customs Clearance exports are up

Customs Clearance exports are up 23%

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.

If you are planning to trade goods to or from Ireland, Aca International Ltd  may be able to help you! Visit our website and follow our Facebook and Linkedin Pages.

Source: www.irishtimes.ie