Tue, 06 Jun 2023

British trade with Ireland slumps following Brexit

Robert Besser
19 Jan 2022, 18:38 GMT+10

DUBLIN, Ireland: Since Brexit went into effect in 2020, Ireland has witnessed a 20 percent decline in goods exported from Great Britain, according to Ireland's Central Statistics Office.

The CSO reported that imports fell by €3,272 million to €12,501 million between January and November 2021, compared to 2020.

However, exports from Ireland to Great Britain increased by 20 percent in 2021.

Also, the impact of Northern Ireland remaining in the EU has resulted in an increase in cross-border trade with Ireland, as businesses do not wish to ship through the UK, which imposed customs checks on goods travelling from Britain to Northern Ireland.

Imports into Ireland from Northern Ireland have jumped by 64 percent to €3,679 million, compared to 2020, while exports to Northern Ireland from Ireland increased by 48 percent.

Of note, a survey found that 45 percent of British businesses say it is difficult adapting to changes in rules brought about by the UK-EU Trade and Cooperation Agreement, according to the British Chambers of Commerce.

"These data certainly do illustrate that the issues with the TCA are not 'teething problems' but more structural defects that, whilst fixable, if not attended to will lead to long term damage to our economy," said Shevaun Haviland, Director General of the British Chambers of Commerce, as reported by euractiv.com.

Among the problems facing British businesses, besides the extra paperwork caused by the protocol, are new burdens because of VAT requirements, customs checks and rule of origin requirements.

Additionally, businesses in Northern Ireland told euractiv.com that one in five businesses in Northern Ireland said their UK supplier would no longer conduct business with them.

More Ireland News

Access More

Sign up for Ireland News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!