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Old 18-12-2024, 17:49   #6093
ianch99
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Re: Britain outside the EU

Useful report from the OBR on the subject: https://obr.uk/box/the-latest-eviden...t-on-uk-trade/

Quote:
Comparing our recent overall trade performance with other advanced economies suggests that the UK saw a similar collapse in exports as other countries at the start of the pandemic but has since missed out on much of the recovery in global trade.d UK and aggregate advanced economy goods export volumes fell by around 20 per cent during the initial wave of the pandemic in 2020. But by the fourth quarter of 2021 total advanced economy trade volumes had rebounded to 3 per cent above their pre-pandemic levels while UK exports remain around 12 per cent below (Chart I, left panel). The UK therefore appears to have become a less trade intensive economy, with trade as a share of GDP falling 12 per cent since 2019, two and a half times more than in any other G7 country (Chart I, right panel).


As always, a case of damage limitation with no sunlit uplands.
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