UK-EU trade declines since Brexit: ESRI study

This may have been partially a result of Brexit spillover effects on supply chains. ESRI noted. The impact of Brexit on EU-UK trade, therefore, does not appear as large if compared to UK trade with the rest of the world as it does when compared to the faster-growing performance of EU trade.

Though goods trade between the EU and UK recovered most of its previous level in value terms following the sharp fall in the early months of 2021, this recovery leaves it well below the levels that would have been expected if it had performed on a comparable level with other trade partners, ESRI said in a press note.

Exports from Ireland to the United Kingdom, on the other hand, continue to perform in line with those of other markets with no notable impact to date of Brexit on the total levels traded.

ALCHEMPro News Desk (DS)