It seems that the impact of Brexit on the Irish economy can now be properly quantified, and the results are not good. Bord Bia, according to RTÉ, assessed the effects that the fall in sterling value has had on Irish agri-exports, including drink.
In 2016, Brexit cost €570 million to the Irish food and drink export trade. This figure was put forward by Bord Bia’s yearly Export Review and Prospects Report.
The organisation also says that we should expect continued difficulties in the face of the sterling value drop.
Despite this negative news, the value of Irish food and drink exports came to a total of €11.15 billion in 2016, actually growing by 2%. Growth like this has been reported for the last seven years in a row.
RTÉ says that our food and drink exports to Britain was 8% less last year than usual, with the worst-affected being cheese and mushrooms.
About 4% less Irish products were exported to Britain in 2016 compared to 2015.