A new report from the Economic and Social Research Institute (ESRI) shows that trade between the UK and the EU has declined since Brexit.
Using both UK and EU data sources, the report estimates that trade from the UK to the EU has declined by 16% and trade from the EU to the UK has declined by 20% since January 1st, 2021.
The report notes that the UK has traditionally been more important as a destination for exports from the EU than as an exporter into Europe.
We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences
It also notes that Ireland is an outlier compared to the rest of the EU when it comes to trade with the UK.
It finds that for the EU27 as a whole, the percentage of exports from the UK accounted for 4% of total imports, declining slightly to 3% in 2021.
By comparison imports from the UK accounted for almost a third, or 31% of Irish imports in 2015, declining to 28% in 2019 and 19% in 2021.
The report cites "closely integrated wholesale and retail sectors" between Ireland and the UK as a factor in this.
On the export side, EU exports to the UK accounted for 7% of overall EU27 exports in 2015, before declining to 6% in 2019 and 5% in 2021.
Irish exports to the UK fell from 14% of total Irish exports in 2015, before declining to 10% in 2019 and rising back slightly to 11% in 2021.
The report suggests the absence of any significant change in exports from Ireland to the UK may be accounted for by increased trade with Northern Ireland.