With Brexit negotiations reaching a critical stage and Ireland apparently in the driving seat on EU policy when it comes to a hard of soft border, it is worth reflecting on the actual significance of our trading relationship with Britain.
In September 2017, the trade in goods(Imports) between Ireland and the UK was worth over €1.5 billion. To put this in perspective, imports from the rest of the world into Ireland, in September was valued at just over €4 billion (source: CSO).
In September, Ireland’s exports of goods to the UK was valued at just over €1.46 billion. Exports to the rest of the world was valued at €8.1 billion in September.
In regards trade in services the CSO data is slightly dated. In 2016, Ireland imported €11.8 billion in services from the UK, which represented just over 6% of all service imports
Irish exports of services to the UK were valued at €22.4 billion in 2016, which represented a hugely significant 16% of total service exports.
In Quarter 2, 2017, there were 57,700 UK nationals employed in Ireland, which represents 2.8% of our total workforce. In regards inward migration into Ireland, the UK represents over 22% of all migrants coming into Ireland (2017). This percentage has risen from 17.6% in 2012.
In Quarter 2, 2017, there were 501,000 outbound trips from Ireland to GB, which represents over 23% of all trips from Ireland overseas.
In regards inbound travel, GB now accounts for 34.4% of all trips into Ireland (Q3,2017).
In conclusion, the Brexit negotiations are of generational significance to Ireland as our economies are so intertwined. The CSO kindly collated this data to emphasise in real numbers the absolute importance of this relationship between Ireland and the UK.
To view the above article in graphical format, please click here >>>
http://www.cso.ie/en/interactivezone/visualisationtools/brexitindicators/
To read about The Reality of Brexit, please click here >>>
