Ireland’s trade with Northern Ireland grew rapidly in 2021, with imports increasing by 65% and exports to the British countryside 54% higher, helping to offset the 13% decline in UK imports by the first year of Brexit audits, according to data released today.
While trade from Britain improved in 2021 as imports were 32% lower in the first half, total imports jumped 18% to a record 102 billion euros.
Northern Ireland remains on the EU’s trade trajectory under the politically divisive Northern Ireland Protocol to Britain’s withdrawal from the EU. infuriating the pro-British Unionists.
Ireland’s exports to Northern Ireland jumped to € 3.7 billion, suggesting that companies across the border are bypassing new product controls from the rest of the UK to Northern Ireland, bringing in more products from Ireland.
Union politicians have repeatedly cited rising imports from Ireland as a sign that the new controls are hampering Northern Ireland’s trade with the rest of the United Kingdom.
The value of Irish imports from the United Kingdom, excluding Northern Ireland, fell to 15.4 billion euros from 17.7 billion, accounting for 15% of the value of total imports last year compared to 21% in 2020.
Exports to the UK, which has postponed product controls from the Republic of Ireland until the conclusion of the protocol talks, increased by 17% year on year in 2021. Total exports increased by 2%.
Source: ΑΠΕ-ΜΠΕ
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
