Trade ties between the UK and the European Union (EU) crumbled quickly after Brexit.

This is shown by figures from the British National Statistics Office (ONS), published Friday March 12, with a record drop of nearly a third in trade for the first effective month since leaving the single market.

British exports to the EU, excluding non-monetary gold and other precious metals, tumbled 40.7% in January compared with December.

Imports plunged 28.8%, another record.

The ONS said the coronavirus pandemic, which prompted Britain to introduce containment measures in January, made it difficult to quantify the impact of Brexit on new customs arrangements.

He also noted changes in data collection.

Food exports plummet

"External data suggests that part of the slowdown in merchandise trade at the start of January 2021 may be attributable to disruptions caused by the end of the transition period," the ONS admitted, however.

Many companies also stored goods at the end of 2020 to anticipate Brexit, which also explained the weakness of trade in January.

The chemicals trade has been particularly reduced, reflecting the end of the rush to stockpile pharmaceuticals before the end of the Brexit transition period on December 31, 2020, the ONS said.

The ONS also observed that exports of food and live animals to the EU, including crustaceans and fish, fell by 64%.

With Reuters

The summary of the week

France 24 invites you to come back to the news that marked the week

I subscribe

Take international news everywhere with you!

Download the France 24 application

google-play-badge_FR