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).
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*