while exports to the rest of the world have fallen 37.2 per cent.
That's impressive. It was supposed to be the opposite.
That should be a big damper for all national movements that want to leave the EU.
How can the UK keep on functioning normally?
while exports to the rest of the world have fallen 37.2 per cent.
That's impressive. It was supposed to be the opposite.
That should be a big damper for all national movements that want to leave the EU.
How can the UK keep on functioning normally?
Brexit is costing the UK £11.7bn a year in lost exports, stark new figures show.
It comes as a major new business survey by the European Movement UK has revealed that 72.8 per cent of firms say that Brexit has had a negative impact on their businesses, 96.4 per cent say it has had a negative impact on their communities, and 98.2 per cent want the UK to rejoin the EU’s single market.
UK goods exports by tonnage have fallen 20.7 per cent. Export volumes to the EU have fallen 15.9 per cent, while exports to the rest of the world have fallen 37.2 per cent.
[…] the administrative burden of Britain's import and export declarations with the EU, which became necessary after Brexit, at £1.8bn in 2022 alone, across 38.6 million declarations. At HMRC's own timings of 19 to 28 minutes each, that is 15 million hours a year that could have been spent more productively.
He said there is “a huge prize” in economic growth to be had by fixing the loss in trade and noted that since the UK voted to leave the EU in 2016, UK goods exports by tonnage have fallen 20.7 per cent. Export volumes to the EU have fallen 15.9 per cent, while exports to the rest of the world have fallen 37.2 per cent.
I'm not even sure how to make sense of that. If you had asked me, I would have assumed the main drop in export tonnage would have been to the EU. I suppose the most likely explanation is that buying from the UK must have become more expensive due to the loss of standardization in regulations and processes, and trade partners decided to buy those goods from elsewhere in the EU in order to keep the standardization. That's just a guess though. And even with that explanation, I can't figure how it wouldn't hold at least as true for EU trade partners as for non-EU.
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