Brexit fuels major pick-up in North-South trade
The value of goods being imported from Northern Ireland to the Republic has jumped by 77 per cent since the UK left the European Union at the start of the year, while the value of exports from the Republic to the North has risen by 43 per cent, according to new data from the Central Statistics Office (CSO).
The agency’s latest trade numbers detail a major pick-up in North-South trade in the wake of Brexit.
They show the value of goods imports from Northern Ireland rose to €1.77 billion in the first six months of 2021, up from just under €1 billion for the same period last year.
Exports from the Republic to the North, meanwhile, rose to €1.57 billion, up from €1.1 billion last year.
Under the Northern Ireland protocol, trade in goods with Britain is subject to customs checks. However, while Northern Ireland remains within the customs territory of the UK, it is simultaneously within the EU single market for the movement of goods.
This means goods moving between Northern Ireland and the Republic are not subject to customs checks.
Some British-based traders have apparently established bases in the North to facilitate trade with the Republic, while some companies in Republic have replaced imports from Britain with imports from the North.
While the data has yet to be compiled on trade from Britain to Northern Ireland, it is understood to be significantly down as a result of difficulties with the implementation of the protocol.
