Cross-border trade continues to soar, figures show

Cross-border trade has continued to soar in both directions after the Northern Ireland Protocol was introduced, new figures show.

ccording to the Central Statistics Office (CSO), imports from Northern Ireland for January to May 2022 increased by 357 million euro to 1.9 billion euro when compared with the same time period of 2021.

Meanwhile, exports to Northern Ireland from the Republic from January to May 2022 increased by 586 million euro to 1.974 billion euro when compared with the same time period in 2021

Imports from Great Britain increased by 831 million euro, to two billion euro compared with May 2021 – a rise of 71%.

The main increases were in the imports of mineral fuels, lubricants and related materials and chemicals and related products.

Imports from Great Britain were 16% of the value of total imports in May 2022.

The value of goods imports from Great Britain for January to May 2022 increased by four billion euro to 9.2 billion euro, compared with January to May 2021.

Exports to Great Britain in May 2022 increased by 319 million to 1.5 billion euro, compared with May 2021.

The main change was an increase in the exports of chemicals and related products and machinery and transport equipment.

Exports to Great Britain accounted for 8% of total exports in May 2022.

The value of goods exports to Great Britain for January to May 2022 increased by 1,668 million to 6.9 billion euro, compared with January to May 2021.

The increases in goods exports were driven mainly by growth in the exports of medical and pharmaceutical products.Ciaran Counihan

The protocol was agreed by the UK and EU as part of the Brexit Withdrawal Agreement, and keeps an open border between the Republic and Northern Ireland.

The CSO figures were released as part of its Goods Exports and Imports for May 2022.

Ciaran Counihan, statistician in International Trade in Goods Division, said that in May 2022, Ireland’s unadjusted exports of goods were 18 billion euro.

Meanwhile, imports were valued at 12.8 billion euro in May.

“The increases in goods exports were driven mainly by growth in the exports of medical and pharmaceutical products,” Mr Counihan said.

“Imports from Great Britain grew by 71% to two billion euro in May 2022 compared with May 2021, driven mainly by increases in the imports of mineral fuels and chemicals and related products.

It should be noted that the large growth rate in imports from Great Britain is partly explained by the relatively low level of imports in May 2021.Ciarán Counihan

“It should be noted that the large growth rate in imports from Great Britain is partly explained by the relatively low level of imports in May 2021.

“May 2021 was the fifth month in which customs documentation was required for trade with Great Britain, which impacted on our trade with Great Britain.”

Seasonally adjusted goods imports increased by 387 million to 12.1 billion euro in May 2022 compared with April 2022, according to the preliminary figures.

Seasonally adjusted goods exports increased by 259 million to 17.9 billion, leading to a decrease of 128 million in the seasonally adjusted trade surplus to 5,738 million in May 2022 compared with the previous month.

Seasonal adjustment compares month-to-month data by removing fluctuations that may occur due to seasonal patterns in trade.

The unadjusted value of goods imports increased by four billion to 12.8 billion euro in May 2022 compared with May 2021.

The value of goods imports for the period January to May 2022 increased by 14.2 billion to 53.6 billion euro, when compared with the same time period of 2021.

Imports of machinery specialised for particular industries increased by 556 million to 707 million.

Imports of mineral fuels, lubricants and related products increased by 591 million euro to 1,007 million euro in May 2022 compared with May 2021.

Imports of organic chemicals increased by 870 million to 2.09 billion, representing 16% of total imports in May 2022.

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