News / Brexit has resulted in a 'significant decline' in trade flows with the EU

© Mariusz Burcz

Brexit has caused UK-EU trade flows to fall by 16%, while EU-UK trade has dropped 20%, according to a report today by the Economic and Social Research Institute (ESRI).

Based on data by HMRC and Eurostat, ESRI said the impacts it had quantified were solely as a result of Brexit, and pointed to “a significant decline in trade with the UK” by EU members.

ESRI said the impacts were measured in isolation from the global effects of Covid-19, and the resulting congestion ...