THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
Irish goods exports to Great Britain increased by nearly 70% in the last year, according to new figures published in Ireland.
The figures, released by the Irish Central Statistics Office, also show that goods imports from Great Britain to Ireland dropped by 32 per cent in the first half of 2021 – a drop of €2.5bn compared to the first half of 2020 a decline of 16% affecting food, live animals and manufactured goods.
Since the UK exit from the Customs Union of the EU, Northern Ireland, under the Northern Ireland Protocol, has remained part of the Customs Union and Single Market, perhaps explaining the figures showing that imports into the Republic of Ireland from Northern Ireland in the first half of 2021 were significantly higher than the same period last year. Imports from Northern Ireland increased to 1.8 billion euro between January and June 2021, compared with €998m in 2020.
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