Trade with Britain tops pre-pandemic levels despite protocol row

New CSO figures show that imports to Ireland from Britain topped €2.1bn in April, while exports across the Irish sea rose by 54% compared to 2021

After setting a new record in March, Ireland’s overall exports for April again showed marked increases, mainly driven by medical and pharmaceutical exports. Picture: David Creedon

Exports and imports across the Irish sea have topped pre-pandemic levels while all-Ireland trade continues to grow, as the battle over the Northern Ireland Protocol rages on.

According to new figures from the CSO, exports across the Irish Sea to Britain rose to €1.6bn in April, a 54% increase from the same period last year, while imports from Britain were up by 78% to €2.1bn.

The CSO said the “large growth rate” is partly explained by the low level of imports last spring - when the Brexit trade deal had just started coming into force.

“April 2021 was the fourth month in which customs documentation was required for trade with Britain, which impacted on our trade,” said CSO statistician Ciarán Counihan.

“Imports from Britain grew by 78% to almost €2.1bn in April 2022 compared with April 2021, driven mainly by increases in the imports of mineral fuels and chemicals and related products.” 

Commenting on the figures, Janette Maxwell of Grant Thornton Ireland said that Britain remains a "key trading partner" for Ireland, accounting for 21% of all non-EU imports.

Exports of €17.7 billion in April 2022https://t.co/oaSBOTxICT #CSOIreland #Ireland #Trade #IrishTrade #Exports #Imports #Businessstatistics #IrishBusiness #BusinessNews #Brexit pic.twitter.com/DwLQQsmU9d

— Central Statistics Office Ireland (@CSOIreland) June 15, 2022

Meanwhile, imports from Northern Ireland in the first four months of 2022 rose to €1.6bn, a 30% rise on the same period in 2021, and exports to the North were up by 40% to €1.5bn.

After setting a new record in March, Ireland’s overall exports for April again showed marked increases, driven mainly by medical and pharmaceutical exports.

“In April 2022, Ireland’s unadjusted exports of goods were €17.7bn. Imports were valued at €11.2bn,” said Mr Counihan.

Exports of medical and pharmaceutical products increased year on year by €2bn (58%) to €7.2bn, representing 41% of the country’s total exports, while exports of organic chemicals rose by 84% to €3bn and food and animal exports increased to €1.2bn.

Imports of mineral fuels and related products increased by 267% to €1.3bn and machinery imports rose by 402% to €7.7bn.

The EU accounted for 39% of Ireland’s goods exports in April while the US accounted for 31%.