Brexit for slow learners Part III | 33 comments (33 topical, editorial, 0 hidden)

Re: Brexit for slow learners Part III (4.00 / 3)

Export and import figures for the first 8 months of the year have just been released and show a continuing pattern of UK exports to Ireland cratering while Irish exports to the UK boom. A small part of this is offset by a large increase in North south trade. To think that the UK used to have its largest trade surplus with any country with Ireland. Brexit is an example of how to destroy your trading economy in one easy lesson.

Imports from North rise as Brexit rules bite

Although the value of goods exported from the Republic to Great Britain in the first eight months of 2021 rose 21 per cent to almost €9.2 billion, imports slumped 30 per cent to €7.3 billion compared to the same period in 2020.
Among the reasons for the change are the challenges of complying with customs requirements in a post-Brexit environment.
Imports from Northern Ireland to the Republic meanwhile rose 61 per cent over the same period to €2.5 billion, while exports were 47 per cent higher at €2.2 billion.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Oct 15th, 2021 at 04:12:24 PM EST

UK Ireland trade (4.00 / 2)

/cont.

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.
New data from the CSO showed Ireland's total seasonally adjusted goods trade exports increased by over €660 million in August, an increase of 5 per cent over July's figures to a total €13.9 billion.
Imports also rose, gaining 2 per cent or €161 million to stand at €8.2 billion for the month.
The seasonally adjusted trade surplus rose 10 per cent during the month to €5.66 billion.

These figures have to be treated with some caution as they may include transfer pricing shenanigans by global corporations. Nevertheless the trends have been all one way since Brexit.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Oct 15th, 2021 at 04:16:19 PM EST
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Brexit for slow learners Part III | 33 comments (33 topical, 0 editorial, 0 hidden)

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