Industry & Business

CSO Publishes Statistical Guide to Brexit

 Breaking News
  • Largest Ever European Investment Bank Support in Ireland The European Investment Bank is to provide a loan of €490 million to support construction of the new children’s hospital in Dublin. This represents the largest ever financial engagement by the European Union’s long-term lending institution in Ireland and the EIB’s first backing for a hospital in the country. The new children’s hospital project includes two [...]...
  • Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion Strabane-based Fabplus is planning to more than double its workforce and turnover with support from Invest Northern Ireland. The investment is part of a three year expansion plan to increase its market share in the Republic of Ireland and Great Britain, and gain a foothold in mainland Europe and Scandinavia. Recruitment is underway to employ 83 additional staff at [...]...
  • PM Group Appoints a New Non-Executive Director Michael McNicholas has been appointed as a Non-Executive Director of Project Management Holdings (PM Group), the Irish headquartered international project delivery specialists. Michael McNicholas. Michael has over 35 years’ experience in senior leadership positions in the public and private sectors. He is the former CEO of Ervia, NTR plc and Managing Director of ESB International.  During his [...]...
  • Center Parcs Signs Contract With John Sisk & Son As construction activity on the much anticipated €233 million Center Parcs Longford Forest resort in County Longford ramps up, the company has announced it has formally awarded two major construction contracts to Dublin-based construction firm John Sisk & Son. The contracts for the construction of the 470 lodges and 30 apartments as well as the state-of-the-art centre [...]...
  • Medi-Shower Invests in Innovation to Drive Export Growth Multi-award-winning manufacturer Medi-Shower has created ‘smart showerhead’ technology which can reduce the risk of Legionnaires disease. The cutting edge product, developed with R&D support from Invest Northern Ireland is designed to meet the high requirements for hygiene within the healthcare sector. It reduces the risk of waterborne infection from bacteria that can build up due to poor design [...]...

CSO Publishes Statistical Guide to Brexit

CSO Publishes Statistical Guide to Brexit
December 07
13:47 2016

The Central Statistic Office released “Brexit: Ireland and the UK in numbers”, on Wednesday, December 7. The publication provides the available figures covering the main areas of Ireland’s engagement with the UK.

“Following the vote by the electorate in the United Kingdom to leave the European Union in June 2016, the CSO decided to compile a suite of aggregate tables which describes the relationship between Ireland and the UK in numbers,” CSO Director General Pádraig Dalton said. “This report contains 24 tables covering the main areas for which we have data on our engagement with the UK and marks the first step in this dissemination process. We will shortly launch an electronic publication which will contain the tables in this report along with other more detailed information. It is also planned to publish on the CSO website in early 2017 a dedicated page which will track indicators on our relationship with the UK. This page will be similar to the page on the CSO website “Key Economic Indicators” and will be created using data in the CSO databank and thus will always be up to date.”

The report shows that flows of direct investment into Ireland were €169.8 billion in 2015 while the United Kingdom had a disinvestment of €4.1 billion. Direct investment flows abroad from Ireland were €149.9 billion in 2015 and there was a flow of direct investment into the UK from Ireland of €0.5 billion. Irish stocks of direct investment abroad were €815.2 billion at the end of 2015 and the UK accounted for 10.9% of this. The stock of direct investment into Ireland was €795.6 billion 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 €1,935 billion at the end of December 2014 and UK issued instruments accounted for €343 billion, or 17.7%, of the total holdings.

Commenting on the detail of the report, statistician Helen Cahill said: “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. 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.”

The report shows that Ireland exported €112.4bn of goods in 2015 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).

There were 8.6 million overseas trips to Ireland by non-residents in 2015 and visitors from Great Britain accounted for 3.5 million (41%) of these trips. The total expenditure (excluding fares) by non-residents on overseas trips to Ireland was €4.2bn in 2015 and expenditure by visitors from Great Britain accounted for €971m (23%) of this. Average expenditure (excluding fares) in Ireland by all visitors was €487 while the average spend by visitors from Great Britain was €274. Visitors from Great Britain spent an average of 4.3 nights in Ireland in 2015 compared to an average of 7.1 nights by all visitors. The number of second hand (used) private cars registered in Ireland was 51,663 in 2014 and 97% of these cars were imported from the UK.

The full report can be found here.

 

About Author

editor

editor

Related Articles






New Subscriber





Subscribe Here



Advertisements
































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4