UK exports to Ireland partially recover following Brexit

Image source, Reuters

  • Author, John Campbell
  • Role, 成人快手 News NI Economics & Business Editor

Trade between the UK and Ireland partially recovered in February, after a steep drop in January following Brexit.

The value of UK exports to Ireland was up by 38% month-on-month from 拢1.13bn to 拢1.56bn.

That is still down by more than 7% compared to February last year when exports were valued at 拢1.69bn.

The figures for Irish imports to the UK continued to deteriorate, down by 21% month-on-month and 17% year-on-year.

The value of Irish imports in February was 拢877m, the worst month in more than 10 years according to figures from the Office for National Statistics (ONS)

The trade figures were the first since new rules came into force as a result of Brexit.

Both the ONS and business analysts said the drop in trade flows was partly caused by stockpiling in December 2020, as businesses tried to get ahead of the introduction of the new rules, depressing trade in January.

There may also have been some pandemic factors, for example the lockdown of hospitality may have had an effect on food trade.

An ONS spokesperson said: "Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels.

"However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade."