Since the UK left the EU in 2020, its goods exports to the EU have not performed any worse than to the rest of the world, and its services exports have grown strongly. How come? Headline UK trade numbers have been surprisingly robust after Brexit. Goods exports to the EU have tracked those to the rest of the world, despite new trade barriers being imposed on the former but not on the latter. And services exports to both the EU and the rest of the world have been growing at a decent clip since the UK left the single market.
Author: John Springford, Associate fellow, Centre for European Reform.
This text has originally been published on the Centre for European Reform website.