Two From Five Firms Imported Solely From The UK In 2016, CSO Reports
Over 26,000 enterprises imported goods from the UK in 2016, 85% of the total number of importing firms. For 10,500 (two out of five) of these importers, the UK was their only trading partner and their trade was about 20% of total imports from the UK.
This comes from the Central Statistics Office (CSO), which released its latest publication that analyses goods exports and imports with the UK in terms of the activity and size of the enterprises trading, rather than the goods being traded.
Irish Traders & The UK
The number of exporters from Ireland is lower than importers, the report found, with approximately 8,600 enterprises exporting goods from Ireland in 2016.
“Around 8,600 enterprises exported goods from Ireland in 2016 and 79% of these exported to the UK. Of the 6,780 firms who exported to the UK, half traded exclusively with the UK, accounting for 16% of the value of goods exports to the UK,” said Senior Statistician Orla McCarthy.
“The Retail/Wholesale sector was the largest importing sector, accounting for roughly 60% of the value of goods imported from the UK in 2016. The Agri-Food sector was the highest value exporting sector, with exports of just under a quarter of the total UK value.”
Ireland imported €20.5 billion of goods from the UK in 2016 based on country of consignment. The Retail/Wholesale sector was the largest importing sector, accounting for €12.1 billion (59%) of the total. SME’s imported two-thirds of the total value of UK imports.
Ireland exported €14.8 billion of goods to the UK in 2016, with the Agri-Food sector was the biggest exporting sector, exporting €3.5 billion worth of goods to the UK that year. SME’s accounted for 60% of Ireland’s UK exports.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.