Thursday 22 August 2019

Ireland's exports to UK and worldwide rise despite shadow of Brexit

Exports increase worldwide for Ireland in April
Exports increase worldwide for Ireland in April

Shawn Pogatchnik

Ireland's exports sharply rose worldwide in April, including a 10pc gain to the UK, in the latest sign that the postponement of Brexit is stimulating short-term activity.

Friday’s report by the CSO found buoyant export trade as Ireland’s trade surplus - the gap between the value of exports versus imports - kept growing.

Goods worth more than €12.5bn were exported globally, 14pc more than in April 2018 and 13pc more than in March 2019. Exports over the first four months of 2019 totalled €50.5bn, 13pc higher than in January-April 2018.

Exports to the United Kingdom - recipients of 9pc of all Irish exports - grew in line with this year’s short-term surge to beat expected new barriers to trade following Brexit. They rose to €1.13bn, a 10pc gain from April 2018, led by increased sales of fuels and chemicals.

The figures for the first four months of 2019 recorded a similar 8pc gain in exports to the UK versus the same period of 2018.

Irish imports rose to €7bn in April, 6pc higher than April 2018 and 2pc higher than the previous month, with the most significant gains in petroleum, aircraft and other transport equipment.

Imports from the UK remained lively, growing by 8pc to €1.5bn - and representing 22pc of all imports to Ireland.

The UK remains Ireland’s top source for imports. The United States, in second place, sent Ireland €1.24bn in goods, up 24pc from April 2018.

Online Editors

Also in Business