UK Trade after Brexit
UK Trade after Brexit, January 2021
Initial trade data for January 2021 shows a marked decrease in volume, following Brexit. The first batch of data (which may be later revised) show a fall in trade with the EU in January, the first month after the transition period ended. Exports to the EU fell almost 38% year-over-year, while imports fell almost 16%, according to figures from the UK Office for National Statistics. Compared to December, exports dropped 41% and imports 29%. These decreases are likely to reflect a number of factors, including the renewed lock-down, stock-piling in 2020, and blockages in Dover.