What Brexit Means for the Irish Economy: a pro and a con

With UK Prime Minister Theresa May failing to win a majority in elections last week, the fate of Brexit negotiations have become even more up in the air. It is likely that she will be forced to give concessions the opposition, and thus take a softer stance on the terms of Brexit. Despite the specifics of the negotiation still being uncertain, it has become obvious that the Irish Economy will be hurt by declining trade with the UK and will at the same time benefit from the relocation of multinational corporations from the UK to Ireland.

The UK is one of the top destinations for Irish exports. In 2015, 12% of Irish exports went to the UK, valuing at $12.9 billion. However, Brexit will force terms of trade between the UK and Ireland to be re-examined. While Ireland will definitely try it’s best to keep trade with the UK as open as possible, with declining consumer spending in the UK and the falling price of the pound to the euro, Irish goods …

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