The UK enjoyed a large surplus in trade with the Republic of Ireland
The UK enjoyed a large surplus in trade with the Republic of Ireland … right up until the start of this year. The balance of trade has now completely flipped, as Britain imports more from Ireland than we export and Northern Ireland has been re-ordering its supply chain more closely with the rest of Ireland at the expense of Britain. This has to be one of the clearest examples of how creating trade barriers with your nearest neighbours impacts your economy.
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