Britain’s trade performance is lagging increasingly behind that of other similar economies, according to data that suggest Brexit has had a detrimental effect on exports, on top of the COVID-19 pandemic.
Britain is the only Group of Seven advanced economy to have failed to regain the level of goods exports seen in late 2018, according to official data published by each country, including British data on Friday.
British goods exports in October stood 5.1% below their level in late 2018 – the last year of relatively normal trade flows not affected by stockpiling ahead of various Brexit deal deadlines.
The next worst performer, France, had goods exports in October worth 1.6% more than their late-2018 level. The best performer, the United States, showed comparable growth of 16.6%.
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