Ireland is uniquely exposed to Brexit due to a very high trade intensity with the UK and the use of the UK landbridge to access continental markets.
In a recent assessment of the impacts of Brexit on the Irish economy, we find that:
- Increased trade costs will lower Irish exports of goods and services by approximately 3-8 per cent in 2030
- Brexit will lower Irish GDP by approximately 3-7 per cent in 2030
- The following five sectors account for the vast majority of the total impact of Brexit: Agri-food, pharma-chemicals, electrical machinery, wholesale and retail and air transport
The study also concludes that domestic policy responses can mitigate Brexit impacts.
Read more at the Department of Business, Enterprise and Innovation’s website