Volume Of Exports To The UK Grow In May Despite Brexit Clouds
Exports to Great Britain increased by €52 million, up 4%, to €1.25 billion in May 2019 compared with May 2018, despite the growing uncertainty over Brexit.
According to the latest export and import figures from the Central Statistics Office, exports to Great Britain accounted for 9% of Ireland’s total exports.
Imports from Great Britain, however, decreased by €65 million, or 4%, to €1.5 billion in May 2019 compared with May 2018.
Imports from Great Britain were 22% of the value of total imports in May 2019.
The value of goods exports to Great Britain in the first five months of 2019 was €6 billion (9%) on the first five months of 2018, while the value of goods imports from Great Britain for the period increased to €8.2 billion (12%).
Beyond The UK
The European Union accounted for up to €6.8 billion, or 50%, of total goods exports in May, of which €1,517 million went to Germany and €1,427 million was exported to Belgium.
Total EU exports in May increased by €1 billion (18%) compared with May 2018.
The USA was the main non-EU destination accounting for €3.7 billion, or 28%, of total exports in May 2019.
Import wise, the EU accounted for €4.3 billion, or 64%, of total goods imports in May 2019, which is an increase of 1% compared with May 2018.
The USA, with €696 million, or 10% of Ireland’s total exports, and China, with €406 million (6%), were the main non-EU sources of imports.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.