‘Unique’ Brexit exposure could cost Ireland billions each year

Ireland’s “unique exposure” to Brexit means it faces potentially devastating cuts in exports and production levels and a huge threat to jobs that could cost the country billions each year.

An independent study by Copenhagen Economics for the Government paints a bleak picture where, even in a best-case scenario, Irish GDP will be 2.8% lower compared with an alternative situation in which, by 2030, the UK had not left the EU.

That European Economic Area (EEA) scenario, similar to the type of arrangement which operates between the EU and Norway and Iceland, would see a 3.3% drop in exports and a 3.5% fall in imports.