Imports from Great Britain to Ireland increased by 78% to almost €2.1 billion in April 2022 compared with April 2021, largely attributable to a growth in the imports of mineral fuels, chemicals and related products. Considering this in context, the exponential growth rate in imports from Great Britain is caused by the relatively low level of imports in April 2021, being the fourth month post-Brexit in which customs formalities were required for Irish trading with Great Britain. Exports to Great Britain from Ireland increased by 54% in April 2022 compared with the same month in 2021. The primary cause was an increase in the export of chemicals and related products, mineral fuels, lubricants, food and live animals.
The EU accounted for 39% of total goods exports in April 2022 which was an increase of 40% when compared with April 2021.The USA was the main non-EU destination accounting for 31% of total exports in April 2022. The EU accounted for 32% of total goods imports in April 2022 which reflected an increase of 29% when compared with April 2021. The UK remains a key trading partner, accounting for 21% of all non-EU imports into Ireland.
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Press Release
Janette Maxwell comments on the April CSO Import/Export data results
15 Jun 2022
Imports from Great Britain to Ireland increased by 78% to almost €2.1 billion in April 2022 compared with April 2021, largely attributable to a growth in the imports of mineral fuels, chemicals and related products. Considering this in context, the exponential growth rate in imports from Great Britain is caused by the relatively low level of imports in April 2021, being the fourth month post-Brexit in which customs formalities were required for Irish trading with Great Britain. Exports to Great Britain from Ireland increased by 54% in April 2022 compared with the same month in 2021. The primary cause was an increase in the export of chemicals and related products, mineral fuels, lubricants, food and live animals.
The EU accounted for 39% of total goods exports in April 2022 which was an increase of 40% when compared with April 2021.The USA was the main non-EU destination accounting for 31% of total exports in April 2022. The EU accounted for 32% of total goods imports in April 2022 which reflected an increase of 29% when compared with April 2021. The UK remains a key trading partner, accounting for 21% of all non-EU imports into Ireland.
Experts / Authors
Janette Maxwell
Janette joined Grant Thornton in 2010 and is currently part of the Indirect Tax team. Her specialities include property transactions and cross border trade. She also has experience with transaction taxes.
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