From a historic perspective, the Irish economy is now far more diversified than in the past when the UK was by far the most important market for Irish exports and when these exports were highly focused on agricultural products.21 However, this reduction in exposure does not mean that the risks from the UK leaving the EU are not serious.
World trade has expanded rapidly since the crisis, the  BIS central bankers’ speeches  1  volume already having reached the pre-crisis level. World trade growth is also expected to continue in the years to come, albeit at a more moderate pace than in 2010.