Analysis: trade could be a drag on recovery for years to come rather than the high-octane propellent the government promised
- Exports to EU plunge by £5.6bn in first month since Brexit
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While most UK consumers found a way to weather the third lockdown, manufacturers were not so lucky after the government’s last-minute deal with the EU plunged British ports into chaos and sent trade plummeting by 40%.
Without a smooth route across the Channel, the manufacturing sector was always going to struggle. That trade dropped by the most in more than 20 years illustrates how dependent on trade the UK is and has always been.
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