As reported in The Business Post, the total value of exports from Ireland reached its highest level ever in 2021 of €165 billion, figures released by the Central Statistics Office show.
This marks an increase of more than €3 billion, equivalent to 2 percent, compared to 2020.
Brexit Impact
Trade between the Republic and Northern Ireland also dramatically increased in the year since Brexit.
Imports from the North increased by 65 percent in 2021 while exports increased by 54 percent.
Imports from the EU rose by €3.9 billion, or 13 percent, last year while the United States remained the country’s largest single export destination, accounting for €4 billion, or 31 percent, of total exports, compared to the EU (37 percent) and Great Britain (9 percent).
In total, imports in 2021 grew by €15.5 billion, or 18 percent, to €102.6 billion.
This is the first time imports have exceeded €100 billion for the year, the CSO said.
Goods Exported
The value of goods exports for December 2021 was €13 billion, representing an increase of €742 million, or 6 percent, compared to December 2020.
In 2021, exports of medical and pharmaceutical products increased by €463 million, or 11 percent, to €4.6 billion in December 2021 when compared with December 2020.
Exports of electrical machinery, appliances, apparatus, and parts increased by €426 million, or 58 percent, to €1.15 billion, while exports of organic chemicals decreased by €358 million, or 17 percent, to €1.78 billion over the same period.
© 2022 Checkout – your source for the latest Irish retail news. Article by Conor Farrelly. Click sign up to subscribe to Checkout.
