LONDON (Reuters) – Exports and imports from Britain to the European Union plunged during the first month of the country’s new trade relationship with the bloc, according to data published on Friday with some heavy caveats.
Exports of goods to the EU, excluding non-monetary gold and other precious metals, slumped by 40.7% in January, the Office for National Statistics said. Imports fell by 28.8%
However, the ONS had previously warned that the hit to trade volumes from the COVID-19 pandemic would make it difficult to identify a Brexit impact from new customs arrangements in January’s data.
(Reporting by Andy Bruce; editing by Sarah Young)
