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Displaying items by tag: Irish trade

It is estimated that Brexit has led to a 45% reduction in goods imports coming from the UK to Ireland according to the Economic and Social Research Institute.

As RTE News reports, in its opening statement to the Seanad Brexit Committee, the ERSI sets out the impact of Brexit on Ireland on goods trade.

While imports from the UK are down, the think tank explains that in contrast, there has been "very little reduction observed over the past year" in Irish exports to the UK.

However, some individual sectors have experienced very large falls in exports, such as the food and beverage sector.

The ESRI estimates that Brexit led to a 25% reduction in Irish food exports to the UK and 40% reductions in beverage exports in the first half of 2021.

Imports coming from the UK to Ireland accounted for 33% of Irish imports in 2019, compared to 12% now.

Exports from Ireland to the UK have fallen from 14% to 8%.

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Published in Ports & Shipping

#Ports&Shipping - Five ports in south Wales that are part of Associated British Ports (ABP) a major UK ports operator, saw the group's regional network handle 12.5 million tonnes of cargo in 2017.

The strong performance of ABP South Wales was due to major investment in infrastructure and ongoing commitment to delivering the highest standards of customer service.

12.5 million tonnes of cargo were handled at Newport, Cardiff, Barry, Port Talbot and Swansea with strong growth in both traditional and emerging sectors, serving south Wales and the wider UK economy.

Year-on-year growth was seen in several commodities. Fertiliser to support agriculture and aggregates for manufacturing were 14% up on 2016, whilst animal feed leapt by some 54%. Recyclables increased by 72% and scrap metal, both exports and imports, doubled in volume compared to the previous year, registering a rise of 108%.

ABP South Wales Director, Matthew Kennerley, said: “Our five ports are continuing to see strong growth hanks to the investment we have been delivering in enhanced infrastructure and facilities. This has helped both new and longstanding customers to further develop and grow their businesses.

“Our ports in south Wales are vital strategic assets of national importance. Strong growth across our ports is not just success for ABP and our customers, it’s success for the Welsh economy.

“Every year our ports contribute £1.4m to the economy and support 15,000 jobs. We are committed to continuing to invest to support our customers, enabling that contribution to grow. We’re excited about the growth that our investment promises to deliver in the year ahead.”

ABP South Wales welcomed several new businesses to their ports throughout 2017. Notably, in September 2017, Swansea Dry Docks Ltd (SDL) reopened the Swansea’s drydock facilities (as reported on Afloat) on a long term lease and welcomed its first vessel following an extensive upgrade of facilities. This long term commitment by SDL will provide a boost to the local economy in terms of skilled employment and increased demand for specialist materials and services.

The growth seen in the handling of project cargo in 2016 was built upon in 2017 as the port of Swansea continued to support the renewable energy sector by handling wind turbine components for local projects. The port handled all components for the Brechfa Forest Wind Farm project, a 28 turbine project based in Carmarthenshire.

Investments were also made into key pieces of infrastructure to ensure the future stability of ABP’s South Wales ports and the surrounding area. In August 2017, the refurbishment of Green Park in Port Talbot was completed. This 18 month major renovation project represents an investment of £2.7 million by ABP South Wales. It will provide huge benefits to the River Afan in terms of improved water management and increased water security for TATA’s Port Talbot steel works.

Published in Ports & Shipping