Business Irish

Sunday 22 July 2018

Exports to the UK surge in six months

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Colm Kelpie

Colm Kelpie

Goods exports to Britain surged 14pc in the first six months of the year, suggesting the sector is weathering the Brexit-induced weakness in the pound.

Exports to Britain jumped 15pc in June alone compared with the same month last year.

The main increase was in the exports of chemicals and related products, according to the figures from the Central Statistics Office (CSO).

Read more: Manufacturers shrug off Brexit with 15pc hike in their output

Imports are also improving, although not quite as strongly.

Imports increased 7pc from Britain in the first six months.

Overall, seasonally adjusted goods exports decreased by €806 million, or 8pc, to €9.4bn in June, compared with May.

But the value of goods exports for the first six months was €61.42bn, an increase of €4.19bn, or 7pc, when compared with the same period in 2016.

Exports of food and live animals increased by €219 million, or 26pc, to €1.06bn in June compared to the previous year.  Within this sector the largest increase was in dairy products and birds' eggs which increased by €118 million or 77pc to €269 million.

Exports to Britain increased by €162 million or 15pc to €1.276bn in June compared with June 2016.

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