British exports to the EU have plummeted due to the poorly negotiated Brexit trade deal.
New figures from the British authority Office for National Statistics (ONS) reveal how much British exports are suffering from Brexit. There was a massive decline in the four EU countries Germany, France, Italy and Spain in particular. “UK exports of goods and services to four of our largest traditional trading partners look bleak,” confirms David Jinks, head of consumer research at international delivery company ParcelHero on deliveryx.
For the German market alone, exports fell from £56.345bn in 2019 – the year before the UK left the EU – to £50.261bn in 2020, a drop of over £6bn, according to ParcelHero. Exports to Spain, Italy and France were also well into the high single-digit billions.
Empty promises of new trade relations
David Jinks cites the lousy Brexit deal as one of the reasons for the rapid decline in goods exports. “Britain’s exporters of goods, from food to cars, have all suffered the impact of the poorly negotiated Brexit trade deal and increased red tape and tariffs. The same applies to services, from finance to IT, which are no longer covered by the regulated EU services market,” he says.
ParcelHero finds it particularly disappointing that the UK has still failed to develop new relationships with other lucrative overseas markets – one of the promises made in the pro-Brexit campaigns. On the contrary, the numbers even went down. The special trade relations with the USA did not come about, exports also fell significantly here, from 141.387 billion pounds in 2019 to 133.120 billion pounds last year. In addition, the growth market of China, which British companies such as Jaguar-Land Rover had made a top priority, collapsed again.
Overall, ParcelHero describes the current situation as a “worrying situation” with little prospect of improvement in the near future.
Released: November 03, 2022
/ Written by Corinna Flemming