Brexit 10 Years On: Resilience and Agility of Irish business Shines Through

• This opinion piece originally appeared in The Sunday Times on 21 June 2026.

It’s strangely apt that the tenth anniversary of the UK’s vote to leave the European Union falls this Tuesday (June 23), just a week before Ireland takes up the Presidency of the European Council.

When the Brexit vote took place, Ireland stood to lose most among the remaining 27 EU members as its single largest trading partner was leaving the bloc.

And while the picture looks remarkably brighter 10 years on than had been forecast at the time, for many Irish businesses the three years after the Leave vote represented an almost unprecedented period of uncertainty. The challenge of Britain’s departure was not a single event but a prolonged period of disruption that forced difficult decisions over a protracted period of years.

Everything from the hardest Brexit to dynamic alignment with EU rules was floated at one stage or another. In that environment, many firms understandably paused major decisions. When the range of possible outcomes is so wide, it is difficult to invest, expand or even plan with confidence.

While the initial response was one of near paralysis due to the scale of the uncertainty and potential disruption, over time, business adapted to the new environment and a tipping point arrived where decisions simply had to be made, and Britain agreed its exit terms from the bloc in January 2020.

In many ways, the real story of the past decade, is not that Brexit delivered any hidden upside for Ireland, but that Irish businesses learned under pressure how to operate through uncertainty.

A striking example of this responsiveness can be found in the transport sector. Before Brexit, the most efficient route to the mainland European market for the majority of Irish exporters was overland through Britain. New customs arrangements changed that irrevocably.

Quickly, new direct sea routes connecting Ireland with France were established. The UK landbridge was effectively replaced by direct EU connectivity – freight volumes between Ireland and France have risen 88% in the intervening years.

This dynamic continues to increase, and in recent days, we have seen Hibernia Line launch a new direct passenger and freight service between Cork and Boulogne-sur-Mer. The shift was neither painless nor cost free, but it showed that Irish businesses adjusted, and the market responded when established routes became more difficult.

Another striking post-Brexit phenomenon has been Ireland’s remarkably strong economic growth. Despite the added disruption caused by the Covid pandemic and the strained trans-Atlantic trading relationship, GDP (in current prices) increased by 131% from €276bn in 2016 to more than €638bn in 2025. Even controlling for the outsized impact of Ireland’s FDI base, modified domestic demand more than doubled during the period.

It is difficult to calculate with any precision how the economy might have performed had Brexit not happened, but our unbroken membership of the EU has played a key role in underpinning what has been achieved. Ireland continues to enjoy unfettered access to the world’s largest trading bloc and, as its only remaining English-speaking Common Law jurisdiction, our attractiveness for FDI has been enhanced. Foreign investment stock has grown from around €800 billion to over €1 trillion over the past decade.

The Northern Ireland economy has also benefited from its unique position under the Windsor Framework and has been the fastest growing region in the UK since Brexit. The all-island economy has strengthened too with cross-border trade between the Republic of Ireland and Northern Ireland growing by between 75% and 80% since 2016. But that ‘the best of both worlds’ position is not without cost. Northern Ireland businesses must navigate this complexity, with differing UK and EU rules and trade agreements before they can avail of the benefits of bi-location in both the British and EU markets.

Crucially, the UK has remained among the Republic of Ireland’s most important trading partners. In 2025, exports to Britain by Enterprise Ireland-backed companies exceeded €11 billion for the first time, roughly the same as exports to the whole of the EU.

This demonstrates a quite extraordinary agility among Irish companies faced with a challenging trading environment.

The strength of Ireland’s trading relationship with the UK is today mirrored at a political level, with significant work undertaken by the current Irish and UK Governments to improve relationships between our nations.

While trade is a reserved competency for the EU, positive relations between Ireland and its nearest neighbour are nevertheless very important. It is always helpful when the political climate chimes with the business needs and aspirations. 

And yet, we must recognise the continuing reality of Brexit. There is little prospect of the UK rejoining the EU in the foreseeable future. Agreements on some aspects of trade may reduce frictions somewhat, but Irish businesses must continue to plan for a future in which the UK remains outside the EU.

They still must navigate global disruption and volatility and continue to build resilience and make decisions, often without perfect information. For organisations, this demands a different way of thinking about risk and opportunity, and how geopolitical, economic and technological developments are factored into day‑to‑day decision making. This may present challenges for some organisations, however the cost of failing to plan will certainly outweigh the cost associated with planning.

Brexit is best understood as part of a much broader shift in relationships and geopolitics over the past 15+ years, rather than a standalone issue. It continues to shape how Irish and UK firms trade and interact, but it sits alongside a wider set of economic and strategic challenges facing Europe and the wider world.

For policymakers, including during Ireland’s forthcoming Presidency of the Council of the European Union, that means balancing a complex agenda. Maintaining a stable and constructive relationship with the UK will remain important, while also addressing wider more pressing priorities, such as economic competitiveness and security.

For business, the reality is that while conditions will continue to evolve, uncertainty is here to stay. The advantage will lie with those organisations that have learned how to build new markets, turn uncertainty into opportunity and to navigate with confidence.