UK-EU trade crashes 40% post-Brexit — by most on record

Oscar Williams-Grut
·Senior City Correspondent, Yahoo Finance UK
·3 min read
Dartmouth Crab Company fishing vessel MFV William Henry II unloads crab catch for export to Portugal in Weymouth, England. Exports of seafood to the EU fell by over 60% at the start of the year. Photo: Finnbarr Webster/Getty
Dartmouth Crab Company fishing vessel MFV William Henry II unloads crab catch for export to Portugal in Weymouth, England. Exports of seafood to the EU fell by over 60% at the start of the year. Photo: Finnbarr Webster/Getty

Exports to the European Union (EU) fell by 40% at the start of the year as Brexit took effect.

The Office for National Statistics (ONS) said on Friday that exports to the EU fell by 40.7% in January 2021, equivalent to £5.6bn ($7.8bn) less trade with the bloc. The slump in exports was the main driver of a 19.3% fall in UK exports to the world at the start of the year.

Imports from the EU also suffered, declining by 28.8% or £6.6bn. The ONS recorded big declines in imports of cars, medicines and pharmaceuticals.

The ONS said the declines were the biggest monthly falls in both imports and exports from the EU since records began in 1997.

READ MORE: UK delays Brexit checks as one in five business give up on EU

The slump came as Brexit occurred on 1 January. Britain officially left the single market, meaning new customs checks and trading rules took effect.

Businesses have complained of huge disruption as a result of Brexit. Manufacturers union Make UK this week said three quarters of its members had experienced delays exporting since the turn of the year, while the Institute of Directors said on Thursday that 1 in 5 of its members had given up on trying to export to the EU.

Seafood and shellfish businesses have been among the hardest hit by new rules. The ONS said exports of seafood to the EU slumped by 63% in January "because of stricter checks and certifications implemented by the EU at the end of the transition period." Trade that previously took less than 24 hours is now taking three days, the ONS said.

READ MORE: £34bn Brexit VAT bill pushes companies to the brink

Businesses stockpiled goods ahead of the transition and the ONS said this surplus could have contributed to the decline in trade at the start of the year. A return to national lockdown may also have contributed and global supply chain issues could have played a part.

"Despite the slow start for trade in January 2021, data from the Business insights and impact on the UK economy suggests that importing and exporting began to increase towards the end of January," the ONS said.

Beyond the EU, UK exports rose by £200m in January while imports dropped by £2.4bn.

READ MORE: Businesses stop serving EU due to 'nightmare' Brexit rules

"The significant slump in UK exports of goods to the EU, particularly compared to non-EU trade, provides an ominous indication of the damage being done to post-Brexit trade with the EU by the current border disruption," said Suren Thiru, head of economics at the British Chamber of Commerce.

“The practical difficulties faced by businesses on the ground go well beyond just teething problems and with disruption to UK-EU trade flows persisting, trade is likely to be a drag on UK economic growth in the first quarter of 2021."

The government on Thursday said it would delay the start of full post-Brexit border checks by six months to ease the transition. Thiru said there should be "a greater focus on long-term solutions to improving the flow of UK-EU trade."

Lord David Frost, the UK's cabinet minister in charge of European relations, said the decline in trading volumes was temporary.

Frost, who negotiated the Brexit deal, wrote on Twitter: "These effects are starting to unwind. The latest information indicates that overall freight volumes between the UK and the EU have been back to their normal levels for over a month now, ie since the start of February."

WATCH: Why is fishing so important in Brexit talks?

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GLOBAL MARKET PERSPECTIVE Table 1: World Current & Future Analysis for Vehicles for Disabled by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 2: World Historic Review for Vehicles for Disabled by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 3: World 15-Year Perspective for Vehicles for Disabled by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027 Table 4: World Current & Future Analysis for Mobility Scooter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 5: World Historic Review for Mobility Scooter by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 6: World 15-Year Perspective for Mobility Scooter by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 Table 7: World Current & Future Analysis for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 8: World Historic Review for Passenger Cars by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 9: World 15-Year Perspective for Passenger Cars by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 Table 10: World Current & Future Analysis for SUV / MPV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 11: World Historic Review for SUV / MPV by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 12: World 15-Year Perspective for SUV / MPV by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 Table 13: World Current & Future Analysis for Pick-Up Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 14: World Historic Review for Pick-Up Truck by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 15: World 15-Year Perspective for Pick-Up Truck by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 III. MARKET ANALYSIS UNITED STATES Table 16: USA Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 17: USA Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 18: USA 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 CANADA Table 19: Canada Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 20: Canada Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 21: Canada 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 JAPAN Table 22: Japan Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 23: Japan Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 24: Japan 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 CHINA Table 25: China Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 26: China Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 27: China 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 EUROPE Table 28: Europe Current & Future Analysis for Vehicles for Disabled by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR Table 29: Europe Historic Review for Vehicles for Disabled by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 30: Europe 15-Year Perspective for Vehicles for Disabled by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2020 & 2027 Table 31: Europe Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 32: Europe Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 33: Europe 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 FRANCE Table 34: France Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 35: France Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 36: France 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 GERMANY Table 37: Germany Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 38: Germany Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 39: Germany 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 ITALY Table 40: Italy Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 41: Italy Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 42: Italy 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 UNITED KINGDOM Table 43: UK Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 44: UK Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 45: UK 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 REST OF EUROPE Table 46: Rest of Europe Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 47: Rest of Europe Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 48: Rest of Europe 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 ASIA-PACIFIC Table 49: Asia-Pacific Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 50: Asia-Pacific Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 51: Asia-Pacific 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 REST OF WORLD Table 52: Rest of World Current & Future Analysis for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR Table 53: Rest of World Historic Review for Vehicles for Disabled by End-Use - Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR Table 54: Rest of World 15-Year Perspective for Vehicles for Disabled by End-Use - Percentage Breakdown of Value Sales for Mobility Scooter, Passenger Cars, SUV / MPV and Pick-Up Truck for the Years 2012, 2020 & 2027 IV. COMPETITION Total Companies Profiled: 40Read the full report: https://www.reportlinker.com/p06033228/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001

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