Skip to content
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

BRITISH-EUROPEAN TRADE MIRED IN BUREAUCRACY

In January, French exports to the U.K. were 13 percent fewer than the previous six months’ average. German exports to Britain were down 30 percent year over year, Italy’s 38 percent. 
For the month, Italy imported 70 percent fewer items from Britain.
“I have a hard time deciding what is the impact of Brexit and what is simply the impact of coronavirus,” which already has slashed trade among western nations, Gilles Moec, chief economist at Axa, a French insurer, told the Financial Times
Much of the losses are due to newly complex customs requirements, mandates for health certificates for some items, higher shipping costs, and difficulty in finding transport.
Some trucking firms reportedly are now refusing to make the crossing between Britain and Europe due to sometimes days-long delays in trips that previously took a few hours.
In 2020, Europe’s exports to the U.K. dropped 13.2 percent; Britain’s exports to Europe were down 13.90 percent.
Britain’s exports to Europe have fallen from 17 percent of its total exports to 14 percent since the Brexit referendum passed in 2016, according to Eurostat, the European Union’s statistics agency.
TREND FORECAST: As we have noted, even in the best of times, the implications of the Brexit deal would dampen U.K. economic growth projections. 
Now, with economies shut down in ways that were unimaginable this time last year, the economic devastation will escalate in the U.K. as the “Greatest Depression” worsens.