Newstalk
Newstalk

13.19 17 Oct 2016


Share this article


Ireland exported €9.5bn worth of goods to the United Kingdom in the first eight months of this year, according to the Central Statistics Office (CSO).

This represented a €300m drop from the €9.8bn it exported to Great Britain and Northern Ireland in the same period in 2015, suggesting the Brexit vote and weakening sterling are starting to have an impact.

The new CSO data also shows we were importing less from the UK, down to €10.59bn for the first eight months of the year compared to the €11.53bn spend for the same period in 2015.

Ireland is the UK’s fifth largest trading partner. However, the value of Ireland's seasonally-adjusted goods exports fell by 11.5% following the UK's decision to leave the EU.

The price of the sterling also continues to drop, as Irish exporters face an uncertain future due to Brexit.

The Irish Exporters Association found that 68% of Irish firms selling into the UK had no hedging in place prior to the Brexit decision. An all-Ireland forum on Brexit is to be held next month. The meeting will be hosted by Taoiseach Enda Kenny and Minister for Foreign Affairs Charlie Flanagan in Dublin on November 2nd.

The total value of exports to all countries was up 5% on the same period in 2015, clocking in at €76bn for the year to August. Imports, meanwhile, were down €1.3bn to €43.5bn for the same period.

Looking at our overall trade in August 2016, the value of Irish exports climbed €1.4bn (16%) to €10.2bn, compared to the previous month. Imports for August fell €94m (-2%) to €5.3bn.

Ireland's trading surplus increased €1.49bn (43%) in the month to reach a record high of €4.9bn. 


Share this article


Read more about

Business

Most Popular

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share


Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

Down To Business With Bobby Ke...

Down To Business With Bobby Kerr

10:00-12:00

Share

Up next

FUTUREPROOF WITH JONATHAN MCCR...

FUTUREPROOF WITH JONATHAN MCCREA

12:00-13:00

Share

OFF THE BALL

OFF THE BALL

13:00-17:00

Share

TECH TALK WITH JESSICA KELLY

TECH TALK WITH JESSICA KELLY

17:00-18:00

Share

SCREENTIME WITH JOHN FARDY

SCREENTIME WITH JOHN FARDY

18:00-19:00

Share

TED RADIO HOUR

TED RADIO HOUR

19:00-20:00

Share

BETWEEN THE LINES WITH ANDREA...

BETWEEN THE LINES WITH ANDREA GILLIGAN

20:00-21:00

Share

DOCUMENTARY AND DRAMA ON NEWST...

DOCUMENTARY AND DRAMA ON NEWSTALK

21:00-22:00

Share

BEST OF THE PAT KENNY SHOW

BEST OF THE PAT KENNY SHOW

22:00-23:00

Share

BEST OF THE HARD SHOULDER

BEST OF THE HARD SHOULDER

23:00-00:00

Share

BEST OF NEWSTALK

BEST OF NEWSTALK

00:00-07:00

Share

DOCUMENTARY AND DRAMA ON NEWST...

DOCUMENTARY AND DRAMA ON NEWSTALK

07:00-08:00

Share

NEWSTALK BREAKFAST WITH SUSAN...

NEWSTALK BREAKFAST WITH SUSAN KEOGH

08:00-09:00

Share

ALIVE AND KICKING WITH CLARE M...

ALIVE AND KICKING WITH CLARE MCKENNA

09:00-10:00

Share

TAKING STOCK WITH VINCENT WALL

TAKING STOCK WITH VINCENT WALL

10:00-11:00

Share

00:00:00 / 00:00:00

Share on