THE value of goods moving across the Irish border continued to increase significantly in the first quarter of 2022.
New data from the Irish Central Statistics Office (CSO) indicate exports from Northern Ireland into the Republic were up by 34 per cent, or €294 million (£250m), on the same three months last year to almost €1.16 billion (£986m).
The value of cross-border trade has increased substantially following the introduction of the Northern Ireland Protocol in January 2021 as supply chains adapted to increased friction on the Irish Sea border.
The CSO said the value of goods moving north to south hit almost €4bn (£3.35bn) in the first year under the protocol, an annual increase of 65 per cent.
Data published by the CSO on Monday showed the 2021 trend has continued into 2022.
Goods moving north from the Republic rose at an even higher rate of 49 per cent in the first quarter.
The €368m (£312m) increase took the first quarter total to €1.12bn (£953m)
If the current trend continues, the value of goods moving into Northern Ireland from the Republic will soon surpass the value of north to south exports.
The CSO data also showed a substantial increase in the value of goods moving from Britain into the Republic as trade flows adapted to the post-Brexit era.
Imports from GB recovered to €5.2bn in the first three months of 2022, a 78 per cent increase on the same period last year.
The data for March showed an extra €540m of goods were sold from Britain into the Republic in March alone.
Janette Maxwell from Grant Thornton Ireland said: “There was a low level of imports in March 2021 given Brexit was in its infancy, hence the notable increase in imports from Great Britain in March 2022 at 39 per cent.
“This was largely attributable to increases in the importation of mineral fuels, chemicals and related products.”
