Imports of goods from Britain to Ireland fell by two thirds

Imports of goods from Britain to Ireland fell by almost two-thirds in the first month of this year as traders had to contend with new customs regulations after Brexit and restrictions associated with the new coronavirus pandemic. Imports were also affected by the fact that many companies had built up stocks before Britain left the single market. This was pointed out by data released by the Irish Statistical Office on Thursday. According to the Office, the value of goods imported from Britain into Ireland (excluding goods from Northern Ireland) reached € 497 million in January. Compared to January last year, this means a decrease of 65%. The share of British goods in total Irish imports thus fell to 9%. By comparison, in January last year, imports from Britain accounted for 21% of total Irish imports. Imports of food and live animals (75%) and mineral fuels decreased the most, where the decrease was 71%. On the contrary, imports from Northern Ireland, which remained part of the European single market after Brexit, rose to 177 million euros from 161 million euros last January, the statistical office said. Exports from Ireland to Britain followed a similar trend, although the decline in Irish exports to the British market was not so great. The value of Irish goods exports to Britain fell by 14% year on year to 946 million euros in January. By contrast, exports to Northern Ireland increased from € 170 million to € 199 million.