From the exit Ireland According to data from the Irish government, in the first six months after Brexit, exports to the UK soared due to a decline in imports in the opposite direction.
As a sign of trade imbalance after Brexit, Central Bureau of Statistics of Ireland (CSO) stated that in the first six months of 2021, merchandise exports to the United Kingdom (excluding Northern Ireland) increased by 20% to 6.7 billion euros (5.7 billion pounds), an increase of more than 1.1 billion euros compared to the same period in 2020.
However, imports from the United Kingdom fell by more than 2.5 billion euros, or 32%, to 5.3 billion euros during the same period.
According to data from civil society organizations, British exports to Ireland in June fell by 16% compared to the same month in 2020, with food, live animals and manufactured goods being the hardest hit.
British exporters have been hit harder Brexit Because they are facing border inspections when exporting goods to the EU from January 1st, and Irish and EU exporters to the UK benefit from the phased approach chosen by the UK government to exceed a 12-month transition period.
This means that although all food and plants exported to the EU have undergone sanitary and phytosanitary inspections since January, countries that sell to the UK, including Ireland, will not be subject to a full set of red tape before January 2022 .
This may explain to some extent why food and live animal exports from Ireland to the UK increased from 315 million euros in June 2020 to 322 million euros in June 2021, while imports to Ireland decreased from 243 million euros To 119 million euros, almost halved.
Compared with the same month in 2020, exports to the United Kingdom in June increased by 575 million euros to 1.42 billion euros, with the chemical and related products sector and machinery and transportation equipment sector having the largest increase.
Sign up for Daily Business Today email or follow Guardian Business on Twitter @BusinessDesk
Previous research has shown that trade between Northern Ireland The Republic of Ireland has benefited from Brexit. Because there are no trade barriers, Northern Irish companies are now purchasing some raw materials south of the border.
The latest snapshot of civil society organizations shows that compared with the same period in 2020, the value of goods imported from Northern Ireland into the Republic of Ireland in the first six months of 2021 has increased by 77% to nearly 1.8 billion euros.
During the same period, the Republic of Ireland’s exports to Northern Ireland increased by 40% to nearly 1.6 billion euros, reflecting the increase in cross-border trade since Brexit, because the region is still in the EU’s single commodity market.
