UK exports to Europe fell 41% in January as Brexit hit trade
CNN
Britain's exports to Europe collapsed in January as companies grappled with new terms of trade following Brexit.
The United Kingdom exported goods worth £8.1 billion ($11.3 billion) to the European Union in its first month completely outside the bloc, a 41% decline compared to December, according to the Office for National Statistics. The drop off in trade is similar when compared to January 2020, ONS data shows. Imports from the bloc tumbled 29% to £16.2 billion ($22.6 billion) in January compared with the previous month, when UK companies stockpiled goods ahead of the end of the Brexit transition period. The import and export figures do not include trade in gold and other precious metals.
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