Cross-border trade at all-time high

Cross-border trade in goods in Ireland is at an all-time high.

Latest figures show it stood at €7 billion for 2017.

Total cross border trade has been growing at an average rate of 4% over the past two decades.

Latest figures show it stands at €7 billion for 2017, according to Inter Trade Ireland, the all-island cross-border trade and business development body.

They also found that companies trading goods into the UK are operating at a 45% higher productivity than those trading only in Ireland.

Aidan Gough, Designated Officer and Director of Strategy and Policy at InterTradeIreland said that the "cross-border market plays a valuable role in a broader export development strategy."

Recent research by the group found that for over half of Irish exporters, Northern Ireland is the destination for more than 50% of their exports, while for 26% of Irish firms, Northern Ireland is their only export market.

71% of exporters reported that cross-border trading was the catalyst for exporting further afield.

Mr Gough says it is impossible to ignore the impact of leaving the EU

Brexit will affect firms on both sides of the border but action now can help businesses prepare for the imminent challenges and opportunities that will arise.



Most Read in Business