Irish firms still struggle with Brexit headwind

Exports of goods to the UK have increased despite the headwinds facing firms from the slump in the value of sterling, new figures suggest, but detailed figures reveal that goods typically made by Irish firms have not fared so well.

The CSO said exports to the UK increased €154m, or 14%, to €1.24bn in May from May 2016, and also increased 14% in January to May by €732m, compared with the same five months of last year, boosted by a surge in exports of chemicals.

The value of sterling has slumped around 13% against the euro in the past year, which should make it much more difficult for Irish manufacturers to sell goods across the Irish Sea. The figures ostensibly suggest that exporters are performing much better than would have been anticipated.