Jarlath O'Keefe
17 Nov 2021
The September CSO figures have shown that the value of exports from Ireland increased by €550 million (4%) in September 2021 when compared to September 2020. This was mainly due to substantial decrease in the export of organic chemicals, medical and pharmaceutical products.
Great Britain remains an important player in Ireland's export market and this is evidenced by the fact that exports to Great Britain increased by €374 million in September 2021 compared to September 2020. The total value of exports to Great Britain has increased by 23% in the first nine months in 2021. However, the previous over-reliance on the British market is no longer the case, given that exports to Great Britain accounted for 7% of overall exports from Ireland which demonstrates that the Irish market is continually sourcing new markets for its products. Imports from Great Britain grew by €35 million (+2%) to €1,456 million compared with September 2020. There was a decrease in the imports of Food and live animals and Machinery and equipment potentially due to increase paperwork and checks associated with Brexit.
The September CSO figures for the import and export of goods have confirmed that there has been a significant increase in cross border trade on the island of Ireland in 2021 following Brexit. This is due in part to businesses adjusting their supply chains to avoid the administrative burden associated with importing goods from Britain. Trade within the island of Ireland has continued to grow with imports from Northern Ireland up by 60% ( €1061 million) in the first seven months of 2021 when compared to the same period for 2020. Exports to Northern Ireland have grown by 48% (€835 million) for the same period.
