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UK trade with Ireland’s largest port recovers from post-Brexit slump | business news

After a sharp post-Brexit decline, Ireland’s largest port saw a rebound in freight volumes to and from the UK in the first quarter of this year.

New figures from Dublin Port show freight to and from the ports of Holyhead, Liverpool and Heysham increased by 23% to 192,000 units compared to the same period in 2021.

However, statistics also show that trade across the Irish Sea is 18% lower than before Brexit.

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Trade between the UK and Ireland fell sharply after Brexit but shows no signs of recovery

Brexit border controls were introduced on January 1, 2021, after the United Kingdom officially left the European Union.

This resulted in a 15% drop in freight volume between Dublin Port and the UK in the first quarter of last year.

The new data is seen as an encouraging sign that Ireland-UK freight trade may be recovering after the Brexit shock.

Dublin Port CEO Eamonn O’Reilly said the port’s nearly 14% growth in the quarter was “largely driven” by increases in traffic to and from UK routes.

“Given that the first quarter of 2021 was very weak in the wake of Brexit – with a 15% decline in total freight volumes – we expected and saw a strong recovery from 14% in the first quarter of the year to nine million gross tonnes.”

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New EU entry/exit system threatens ‘worse disruption’

In January, Mr O’Reilly said he thought the so-called land bridge was “gone” because of Brexit.

The Land Bridge is the decades-old transit route through Britain chosen by many Irish companies for transport to continental Europe.

Figures for 2021 show Irish traders increasingly opting for direct routes to Europe, bypassing Britain and the post-Brexit bureaucracy.

A spokesman for Dublin Port described today’s Dublin-UK trade figures as “a positive development”.

UK trade with Ireland’s largest port recovers from post-Brexit slump | business news

Source link UK trade with Ireland’s largest port recovers from post-Brexit slump | business news

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