Despite the difficulties and tensions created by Brexit, the latest official figures show that UK trade with the EU has bounced back following the impact of the end of the transition period on COVID-19.
According to the latest data from the Office for National Statistics (ONS), exports to the EU from the UK increased by £3.7 billion in February 2021 compared to January. Meanwhile, imports from the EU were up by £1.2 billion.
This follows a historic drop in UK exports of 40 per cent in the month following the end of the transition period.
The recently released ONS trade data also shows that in February overall exports were up by 9.9 per cent to £24.3 billion, while exports specifically to the EU increased by 46.6 per cent.
Interestingly, exports to non-EU markets declined 10.5 per cent, but this may be due to the impact of Brexit and COVID-19.
Separate analysis from French Customs authorities, published by The Telegraph, shows that the quantity of goods moving between the UK and France was “back towards normal in March”.
In fact, imports from Britain to France climbed to 107 per cent of typical levels for that time of year, once Covid-19 effects were taken into account, the research found.
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