Trade between Great Britain and Ireland dropped more than €6bn in 2024 as post-Brexit frictions hit shipments across the Irish Sea.
The value of imports and exports between the nations fell to about €32bn last year, down from €38bn in 2023, according to Ireland’s Central Statistics Office.
A near-€3bn drop in chemical exports from Ireland to the UK and a €1.6bn fall in shipments of gas and lubricants from Britain into Ireland contributed to the slump in trade.
Overall, exports from Ireland to Great Britain decreased by 10% to just under €16bn year on year, while imports from Britain to Ireland dropped by 21% to €16.6bn.
The chemical sector has been among those hit by Brexit red tape, with dual regulatory regimes operating in the EU and the UK causing costly duplication for the industry responsible for everything from paint to household cleaners.
The CSO data show a drop in mineral exports, while a separate report on Monday showed an increase in wind energy saved Ireland €1.2bn on importing gas in 2024.
The food and farming sector has also been hampered by Brexit, including cheese and beef, with exports in both directions requiring significant amounts of extra paperwork.
But trade in this sector was stable last year, with exports from Ireland to Britain up slightly year on year, from €3.9bn to €4.1bn, and up from €2.47bn to €2.67bn in the other direction.
Sale of food and live animals from Ireland to Great Britain overtook chemicals and related products as the top export commodity in 2024 owing to the decline in the sale of chemicals, which has dropped from almost €7bn a year to €4bn.
While Ireland’s trade with Britain has dropped, trade with Northern Ireland, which is part of the UK, continues to flourish.
Unlike the rest of the UK, Northern Ireland must observe EU trade rules as part of the 2020 Brexit deal, which was aimed at keeping borders invisible for trade on the island of Ireland.
Exports from Northern Ireland to Ireland, including sheep for slaughter, were up from €5.2bn to €5.4bn, with food and live animals showing the biggest growth.
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Despite the extra red tape caused by Brexit, the UK remains Ireland’s biggest trading partner in Europe, although the Netherlands outstripped the UK for exports in 2024.
Ireland’s trade with the US, which has become a concern for the Irish government since Donald Trump threatened tariffs on EU goods, showed a big surplus, with exports of more than €72bn – a 34% increase in 2024 – compared with imports valued at €22bn.
Among the goods the Irish sell across the Atlantic are pharmaceuticals manufactured by US multinationals with large bases in Ireland including Pfizer, Johnson & Johnson – which makes everything from baby lotion to mouthwash – and Merck.
Outside Europe, China remains Ireland’s second biggest trading partner for goods, with almost €22bn-worth of trade, €10bn in exports and €11.8bn in imports.
