Cross-border trade on the island of Ireland reached €7 billion in 2017, an all-time high, and has been growing at an average of 4% annually over the past two decades.

That’s according to the latest report from InterTradeIreland, which has now been in existence for two decades of developing cross-border trade and business. It has assisted more than 39,000 businesses, helped create 14,800 jobs, and has generated more than €1.2 billion in business development value through its programmes and initiatives since 1999.

The report, Export Participation and Performance of Firms on the Island of Ireland, found that for half of southern Irish exporters, Northern Ireland is the destination for more than 50% of their exports, while for 26% Northern Ireland is their only export market.  71% of exporters reported that cross-border trading was the catalyst for exporting further afield.

Strategy director Aidan Gough said: "Our research shows that the cross-border market also plays a valuable role in a broader export development strategy, with exporting firms proven to be more innovative, more productive and more resilient than their non-exporting counterparts.

“With only 1.6 % of (southern) Irish goods exports going north, and 15% of goods produced in Northern Ireland being exported beyond its border, there are still plenty of opportunities for the further growth that exporting delivers.”

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ITI research shows that Irish companies trading goods into the UK are operating at 45% higher productivity than those trading only in Ireland, and also have higher employment rates and turnover.

Gough added: “Brexit will affect firms on both sides of the border but action now can help businesses prepare for the imminent challenges and opportunities that will arise.

“It is my hope that we can help SMEs take the first step in preparing for their future through the supports and expertise of our Brexit Advisory Service and that we can equip companies to deal with whatever changes happen, post Brexit.”