Brexit hits trade with the EU
New data suggest Brexit is depressing UK trade with the EU, with imports and exports in the first four months of the year down by a quarter compared to 2019. The Office for National Statistics figures show trade with the EU in April was down 12% on that recorded in April 2019, with a 25% decline recorded when comparing figures covering the January-April period. It was also shown that trade with non-EU countries fell by just 4% between January and April and rose by 3% for April alone. Thomas Sampson, associate professor at the London School of Economics, said: “Comparing changes in trade with EU versus non-EU gives a rough estimate of the Brexit effect”, saying Brexit has cut goods trade with the EU by 21% so far in 2021 compared to 2019.