Brexit – Study: British trade with the EU fell sharply

The 93-page assessment of the business analysis institute of Aston University in Birmingham highlights that, based on the monthly data series recorded in the period between 2021 and 2023, British exports to EU markets decreased by 27 percent, and imports from the EU fell by 32 percent.

According to the research institute’s model calculations, this represents a loss of British exports equivalent to 80.1 billion dollars per year by the end of the period under review, and the annual value of imports from the European Union was 145.2 billion dollars lower than the level that would have been in the same period if the British EU membership had remained. could have been achieved.

The primary factor behind the decline in British exports to the EU market is the significant reduction in the number of exported British goods: last year, British exporters sold 1,645 fewer goods to individual EU markets than before Brexit

– says the study of the business analysis workshop of Aston University.

According to the findings of the research institute, the trade and cooperation agreement (TCA) signed with the European Union by the previous conservative governments – that is, the agreement setting the conditions for Brexit – caused serious disruptions in the operation of the supply chains of bilateral trade.