Brexit’s Impact on UK Trade – what is really happening?
Now that Brexit has officially come into force following much legislation, Plamen Natzkoff, Senior Trade Expert, examines the impact it has had on bilateral trade between the UK and its trading partners around the world. VesselsValue’s AIS and GIS derived trade flow data offers a unique perspective from which to assess trade impacts by tracking imports and exports in real-time.
“For Oil and petroleum products, while trade rebounded sharply after the initial lockdowns, activity settled at a broadly reduced level for the summer months. Towards the end of the year, November registered the largest volume of imports going back to at least 2015 at 6.79mt. This burst of activity was short-lived, however, and was followed by a sharp drop to a February low of 2.7mt (the lowest since 2015 by some margin). While we saw a slight recovery in March, imports remain extremely weak. Exports from the UK, while somewhat less volatile than imports, followed the same pattern…”
Read the full article here.
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