Latest trade figures reveal just how bad Brexit has been for the UK economy

New figures released today have revealed just how disastrous Brexit has been for the UK economy as trade data shows exports to the EU fell by almost 14 per cent.

As our close neighbour, the UK exports a huge amount of goods and services to the European Union. But, new evidence has shown that Brexit has had a negative impact on the amount we are exporting.

Eurostat data shows that UK exports to the bloc fell by 13.6 per cent in 2021 compared to data from 2020, according to a senior official in Brussels.

European Commission vice-president and Brexit negotiator, Maroš Šefčovič, said that the increased red tape since the end of the UK transition period out of the bloc in January 2021 is to blame for the falling exports, even with the pandemic impact taken into account.

Sign up to our new free Indy100 weekly newsletter

Šefčovič explained: “One result of Brexit was the return of a customs border between the EU and Great Britain.

“This means paperwork for virtually every product shipping between our markets. It means checks on thousands of goods being carried out on a daily basis.

“Brexit has increased red tape, not decreased it. It is no longer as frictionless and dynamic as before. This holds true for both goods and services.”

The drop in exports is estimated to have cost the UK around €23 billion (£19.88 billion), as they from fell €169bn (£144bn) in 2020, to €146bn in 2021.

It comes as Brexiteer Jacob Rees-Mogg was mocked after claiming that the UK’s ability to choose what phone chargers we use, rather than backing the EU's common charger for all portable devices, is a Brexit benefit.

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.