Trade between the UK and Ireland has fallen by more than €6 billion ($6.2 billion) in 2024 as Brexit-related barriers continue to hamper shipping across the Irish Sea.
New data from Ireland’s Central Statistics Office shows the value of imports and exports between the two countries fell to 32 billion euros last year, down from 38 billion euros in 2023.
A sharp fall of almost €3bn in chemical exports from Ireland to the UK and a €1.6bn drop in fuel and lubricants shipments from the UK to Ireland contributed to the fall.
The chemicals sector – a vital industry responsible for producing everything from paints to household cleaners – has been particularly affected by regulatory duplication post-Brexit.
The introduction of dual regulation between the EU and the UK has increased costs and created logistical challenges for exporters on both sides.
Overall, Irish exports to the UK fell by 10% to just under €16bn, while imports from the UK to Ireland fell by 21% to €16.6bn.
Following the decline in chemical exports, food and live animals overtook chemicals as Ireland’s main export commodity to the UK. Chemicals exports fell from almost €7bn a year ago to €4bn. Despite Brexit problems, the UK remains Ireland’s largest trading partner, although it has been overtaken by the Netherlands in terms of exports in 2024.
