Displaying items by tag: IrelandUK

20th May 2021

Exports from Ireland to UK Fall Only Slightly as British Imports Slump

Irish exporters selling into the key British market may be weathering the disruption caused by the new Brexit border on the Irish Sea, even as imports from Britain are down sharply, new CSO figures suggest.

Exporters from Ireland selling into the key UK market may be weathering the disruption caused by the new Brexit border on the Irish Sea, even as imports from Britain are down sharply, new CSO figures suggest.

At €3bn, goods exports to Britain for the first three months of the year were down by only 3% from the same period in 2020, despite the disruptions to trade and truck movements at Irish Sea ports.

Exports of food and live animals to Britain accounted for part of the decline – sales across the Irish Sea fell to €648m from €871m in the same period in 2020.

Food and live animal export sales were also down to EU countries, to €855m from €914m a year earlier.

However, the CSO figures show a sharp fall, by €2bn, across a wide range of imports from Britain, down by €2bn to €2.2bn in the first quarter.

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.