Displaying items by tag: trade figures

We can be thankful that trade between the UK and EU partially recovered in February, after a steep drop following Brexit. However, exports were still below last year's levels and imports from the EU had seen a weaker recovery. Figures show the UK economy grew by 0.4% in February, but the economy was still 7.8% smaller than a year earlier, before the impact of the pandemic. The Federation of Small Businesses said overall sales had dropped by £2.5bn, and its members needed more help. Chairman Mike Cherry said: ‘UK exports have tumbled since the end of the Brexit transition period. International sales are way down on where they were at this time last year. A fifth of small exporters have halted sales to the EU temporarily, and some have already given up on selling into the bloc on a permanent basis.’