BREXIT: IRELAND AND THE UK IN NUMBERS
Following the vote by the electorate in the United Kingdom (UK) to leave the European Union (EU) in June 2016, the CSO compiled a suite of aggregate tables which describes the relationship between Ireland and the UK in numbers.
Here are some of the main points from the report from the CSO.
Business:
Flows of direct investment into Ireland were €169.8bn in 2015 and the United Kingdom had a disinvestment of €4.1bn. Direct investment flows abroad from Ireland were €149.9bn in 2015 and there was a flow of direct investment into the UK from Ireland of €0.5bn.
Irish stocks of direct investment abroad were €815.2bn at the end of 2015 and the UK accounted for 10.9% of this. The stock of direct investment into Ireland was €795.6bn at the end of 2015, of which investment from the UK accounted for 4.6%.
The value of Irish residents’ holdings of foreign securities was €1,935bn at the end of December 2014 and UK issued instruments accounted for €343bn, or 17.7%, of the total holdings.
The number of persons engaged in Irish owned foreign affiliates was 307,999 in 2014 and 86,180 (28%) were located in the UK. The turnover of Irish owned foreign affiliates was €99bn in 2014 and of this €37.6bn (38%) was in the UK.
Trade:
Ireland exported €101.8bn in services in 2014 and €18bn (18%) of these exports went to the United Kingdom. Imports of services amounted to €109.4bn in 2014 and €11.4bn (10%) of these imports were from the UK.
In 2015 Ireland exported €112.4bn of goods and €15.6bn (13.9%) of these goods went to the UK. The top 5 categories of goods exported to the UK in 2015 were: Meat & meat preparations (€1.9bn), Medical & pharmaceutical products (€1.5bn), Organic chemicals (€1.0bn), Essential oils, perfume materials; toilet & cleansing preps (€0.8bn) and Dairy products & birds’ eggs (€0.8bn).
Imports of goods amounted to €70.1bn in 2015 and €18bn (25.7%) of these imported goods arrived from the UK. The top 5 categories of goods imported from the UK in 2015 were: Petroleum, petroleum products & related materials (€1.9bn), Gas, natural & manufactured (€1.1bn), Miscellaneous manufactured articles n.e.s. (€1.1bn), Essential oils, perfume materials; toilet & cleansing preps (€0.8bn) and All other commodities and transactions (€0.7bn).
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