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Goods imports from Britain post 65% annual fall in January

Goods exports to Britain posted an annual decline of 14% in January. Photo: PA

Goods imports from Britain fell by 65 per cent in January compared to the same period last year as traders grappled with new customs requirements, Covid-19 restrictions and pre-Brexit stockpiling, according to the Central Statistics Office.

The value of imports from Britain, not including Northern Ireland, fell to €497 million in January compared with €1.4 billion in the same period a year ago.

Factors reported by traders included “challenges of complying with customs requirements … stockpiling of goods … substitution with goods from other countries” as well as Covid-19 restrictions, senior statistician Orla McCarthy said in a statement.

Imports from Northern Ireland increased to €177 million euros from 161 million in January last year, it said.

Imports from the North to the Republic are not subject to the same customs requirements as those from the rest of the UK under the Brexit deal.

Goods exports to Britain posted an annual decline of 14 per cent in January to €946 million. Exports to Northern Ireland increased to €199 million from €170 million the previous January.

Source:

www.breakingnews.ie

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