The rising cost of living stifled the volume of goods passing through Irish ports during the first six months of the year.
New figures from Irish Maritime Development Office (IMDO) show between January and June Roll-on/Roll-off (RoRo) volumes dropped by 3% compared to the same period last year, equivalent to 20,000 fewer units.
While Lift-on/Lift-off cargo (LoLo) also fell by 9% or 55,000 containers.
"Beginning with a rapid rise in energy costs in early 2022, the cost of transporting goods, and the cost of goods themselves, has risen sharply," the IMDO said.
"This has suppressed trade at our ports, with traffic on almost all routes declining to some degree."
When seasonally adjusted, RoRo traffic declined on a quarterly basis in four of the last five quarters, the IMDO added, with Rosslare-Europort the only one to see an increase versus last year.
One in every three units of RoRo traffic now moves between Ireland and the EU, compared to one in six pre-Brexit.
"As a result, there is no immediate sign of a return to the pre-Brexit makeup of the Irish RoRo freight market," the IMDO said.
It also said that volumes recorded in the unitised freight market at Irish ports in the first half of the year were sluggish, below trend "and reflective of the suppressive effect inflation has had on international trade volumes."
But the IMDO added there are reasons to be optimistic about the near future, with inflation easing, robust domestic growth and extremely low unemployment.
"Abroad, EU growth is subdued, while US growth is improving. Both are also buoyed by high employment levels," it said.
"Most importantly, global inflation rates are easing. In all, there are positive signals that the declines recorded at Irish ports may be temporary, and that the worst period may have passed."
