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.

Index of Frank's Diaries