Trade for prosperity

2021 figures confirm that trade in goods and services has slightly shifted away from the EU

The share of UK exports to the EU fell from 47% in 2020 to 42% in 2021. The exports in value to the EU were £146 Bn in 2020 compared to £141 Bn in 2021.

The share of UK imports from the EU fell from 47% in 2020 to 44% in 2021. The imports in value from the EU were £232 Bn in 2020 compared to £223 Bn in 2021.

Despite this, the UK’s market share in EU imports only marginally fell from 3.6% in 2020 to 3.3% in 2021.

Trade in Services

3% of UK imports and 1% of UK exports shifted from the EU to the rest of the world in 2021 (Q1 to Q3).

Imports from the EU fell by 6%, from £54 Bn in 2020 (Q1 to Q3) to £51 Bn in 2021 (Q1 to Q3), a much greater fall than imports from the rest of the world.

Exports to the EU stayed nearly the same, £78 Bn in 2020 (Q1 to Q3) and 2021 (Q1 to Q3).

Source: Trade Insights www.tradeeconomics.com

Post BREXIT trade agreements

Since exiting the EU, the UK rolled out FTAs with 66 markets, lost preferences in 11 markets, gained preferential access to 3 new markets, and lowered preferential access to 27 markets*

Source: Trade Insights www.tradeeconomics.com

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