Cross-Border trade continues to soar in both directions, new figures show

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Cross-Border Trade Continues To Soar In Both Directions, New Figures Show Cross-Border Trade Continues To Soar In Both Directions, New Figures Show
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By Cate McCurry, PA

Cross-Border trade continues to soar in both directions over the past 12 months, new figures show.

According to the Central Statistics Office (CSO), imports from Northern Ireland for January to June 2022 increased by €413 million to €2.3 billion when compared with the same time period of 2021.

Meanwhile, exports to Northern Ireland from the Republic from January to June 2022 increased by €662 million to €2.4 billion when compared with the same time period in 2021.

The figures were published in the CSO’s Goods Exports and Imports statistics for June 2022.

Imports from Great Britain increased by 54 per cent and were nearly €2.2 billion compared with June, while exports were €1.9 billion.

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

Exports to Great Britain in June 2022 increased by €532 million, an increase of 38 per cent, to €1.9 billion, compared with June 2021.

Meanwhile, Ireland’s unadjusted goods exports were €17.5 billion, an increase of almost €2.8 billion compared with June last year.

Unadjusted goods imports were €12.7 billion, which was €2.8 billion higher than imports in June.

Seasonally adjusted goods exports were valued at €16.5 billion in June 2022, a decrease of €1.3 billion when compared with May 2022.

Seasonally adjusted goods imports were €11.6 billion in June 2022, a decrease of €968 million compared with May 2022.

The EU accounted for €6.2 billion of total goods exports in June, of which €1.6 billion went to Germany, €1.4 billion went to Belgium and €1.2 billion went to the Netherlands.

Total EU exports in June 2022 increased by €604 million compared with June 2021.

The USA was the main non-EU destination accounting for €5 billion of total exports in June 2022.

The EU accounted for €3.6 billion of total goods imports in June 2022, which is a decrease of €23 million compared with June 2021.

 

The UK with €2.5 billion, China with €2 billion and the USA with €1.8 billion were the main non-EU sources of imports.

Orla McCarthy, senior statistician, at the International Trade in Goods Division said: “In June 2022, Ireland’s unadjusted exports of goods were €17.5 billion and imports were valued at €12.7 billion.

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“Comparing the first six months of 2022 with the same period in 2021, exports of goods increased by just over 30 per cent, and the value of imports increased by more than a third.

“The main driver of increases in exports of goods was chemicals and related products.

“On the imports side there were significant increases in imports of both mineral fuels and chemicals and related products.”

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