Food and Live Animals overtakes chemicals to become the largest export to Great Britain, while pharmaceuticals and chemicals lead increased exports to the USA.
Carol Lynch, Partner & Head of Customs and International Trade Services, featured in The Irish Times with her commentary on latest update from CSO. Read Carol's full commentary below.
The standout statistic from today’s CSO Figures is that Food and Live Animals have overtaken Chemicals & Related Products as the largest export to the British market in May. This can be attributed to the strength of the domestic food and agricultural economy and is particularly positive considering the increased import controls going into the UK.
Exports to Great Britain in May were €1,288 million, which was 7% of total exports for that month. Food and Live Animals accounted for €370 million of this.
While the US elections continue to dominate headlines, strong demand in that market for pharmaceutical products has seen growth in exports of €6.2 billion year to date, when compared to the same period last year, with the export of Chemicals & Related Products accounting for €5.8 billion of that increase.