The report, published on Wednesday, raises the prospect of sharp increases in costs for Irish importers. It concludes that the exposure on the import of goods is even more pronounced than on exports from the UK’s departure from the EU in March 2019.
The high impact on imports points to the potential disruption to supply chains, particularly for the retail, agri-food and pharmaceutical-chemical sectors.
The report forms part of the Government’s preparations and contingency planning around Brexit, and will point to the need for “an ambitious, comprehensive and wide-ranging EU-UK trade agreement to minimise the impact of this structure change to the economy”.
