Given its close proximity to Ireland, it is unsurprising that imports from Northern Ireland in Q1 2022 continue to rise and experienced growth of 34% when compared with Q1 2021. Exports to Northern Ireland in Q1 2022 also continued to rise and demonstrated a 49% increase on the same period last year.
There was a low level of imports in March 2021 given Brexit was in its infancy, hence the notable increase in imports from Great Britain in March 2022 at 39%. This was largely attributable to increases in the importation of mineral fuels, chemicals and related products.
In terms of an overall picture, in March 2022, Ireland’s unadjusted exports of goods exceeded €20 billion. Imports exceeded €11 billion in March 2022. Both figures are the highest monthly figures on record and are driven mainly by growth in the export of medical products, pharmaceutical products and organic chemicals.
Geographically, the USA ranked as the largest recipient of Irish exports, accounting for 37% of total exports in March 2022, just ahead of the EU who received 35% of total exports.
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Press Release
Janette Maxwell comments on the CSO Import/Export data results
16 May 2022
Given its close proximity to Ireland, it is unsurprising that imports from Northern Ireland in Q1 2022 continue to rise and experienced growth of 34% when compared with Q1 2021. Exports to Northern Ireland in Q1 2022 also continued to rise and demonstrated a 49% increase on the same period last year.
There was a low level of imports in March 2021 given Brexit was in its infancy, hence the notable increase in imports from Great Britain in March 2022 at 39%. This was largely attributable to increases in the importation of mineral fuels, chemicals and related products.
In terms of an overall picture, in March 2022, Ireland’s unadjusted exports of goods exceeded €20 billion. Imports exceeded €11 billion in March 2022. Both figures are the highest monthly figures on record and are driven mainly by growth in the export of medical products, pharmaceutical products and organic chemicals.
Geographically, the USA ranked as the largest recipient of Irish exports, accounting for 37% of total exports in March 2022, just ahead of the EU who received 35% of total exports.
Experts / Authors
Janette Maxwell
Janette joined Grant Thornton in 2010 and is currently part of the Indirect Tax team. Her specialities include property transactions and cross border trade. She also has experience with transaction taxes.
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