Trade to Britain continues to rise despite protocol uncertainty

The increasing levels of trade indicate that the ongoing uncertainty surrounding Brexit and the Northern Ireland protocol is not disrupting the transport of goods.
Trade to Britain continues to rise despite protocol uncertainty

According to new figures from the CSO, exports across the Irish Sea to Britain rose to €1.6bn in June, a 38% increase from June 2021

Trade between Ireland and Britain has continued to grow despite the ongoing legal dispute over the Northern Ireland protocol and Brexit uncertainty.

According to new figures from the CSO, exports across the Irish Sea to Britain rose to €1.6bn in June, a 38% increase from June 2021, while imports from Britain were up by 54% to €2.1bn from the same month last year.

The increasing levels of trade indicate that the ongoing uncertainty surrounding Brexit and the Northern Ireland protocol is not disrupting the transport of goods.

"Imports from Great Britain grew by 54% to nearly €2.2bn in June 2022 compared with June 2021, the largest increases were in the imports of mineral fuels and chemicals and related products," said Orla McCarthy, senior statistician, international trade in goods division.

“In June 2022, Ireland’s unadjusted exports of goods were €17.5bn and imports were valued at €12.7bn. Comparing the first six months of 2022 with the same period in 2021, exports of goods increased by just over 30%, and the value of imports increased by more than a third."

Ms McCarthy stated that chemicals and related products were the main driver of increases in exports of goods. While there were significant increases in imports of both mineral fuels and chemicals and related products.

Last month, a new report showed that the UK was the third largest market for Irish goods exports last year, but was the single largest source of goods imports.

Despite Brexit and uncertainty around the Northern Ireland protocol the report stated that the UK has remained a key trade market for Ireland.

During the first six months of the year, Ireland saw imports from Northern Ireland rise to €2.37bn, a 21% increase from the same period last year. Exports to Northern Ireland also increased to €2.42bn, up 38% compared to the first six months of 2021.

Imports of mineral fuels and related products in June increased by 108% to €1bn compared to the same month last year and imports of machinery specialised for particular industries rose by 285% to €592m.

The EU accounted for 35% of Ireland’s goods exports in June while the US accounted for 29%.

More in this section

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Some of the best bits from irishexaminer.com direct to your inbox every Monday.

Sign up
Execution Time: 0.216 s