UK exports to Ireland reach record highs despite Brexit trade frictions British goods flowing into Ireland UK exports of goods to Ireland have now posted consecutive monthly records in June and July, according to fresh data shared with City A.M. this morning. Analysis of the latest government trade data shows £2,861m and £2,693m worth of goods travelled into Ireland through the two months respectively, as trade with the UK’s closest neighbour [...]
London businesses still not sure what ‘Levelling Up’ means, new survey shows Levelling Up London businesses are still unclear on the details of what the UK government’s ‘Levelling Up’ agenda actually entails, according to new research from the London Chamber of Commerce and Industry (LCCI). First set out in the Conservative Party manifesto in 2019, the Levelling Up policy aims to reduce disparities between regions and social groups inside [...]
Brexit onslaught deepens as a third of all UK exporters to EU vanish due to red tape knockout UK to EU trade severely under pressure The number of UK businesses exporting goods to the EU fell 33 per cent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with City A.M., Michelle Dale, a senior manager at accountancy firm UHY Hacker Young, pointed out the fall is due to the extra red tape [...]
UK trade exports in and outside of EU grow by £2.1bn post-Brexit September 12, 2022 The UK’s trade exports in and outside of the European Union (EU) rose in July, according to official figures, as the country’s GDP inched higher. Exports to the EU rose 7.9 per cent in July – the equivalent of £1.3bn, the Office for National Statistics (ONS) revealed this morning, While exports to non-EU countries increase [...]
‘Significant barriers’ hampering digital trade, City of London warns September 1, 2022 Post-Brexit trade deals have left “significant barriers” in place that are hampering digital trade to and from the UK, the City of London corporation warned today.
Britain cuts off all Russian fuel imports for first time on record August 24, 2022 Britain has bought no fuel from Russia for the first time since records began, driven by the country shunning energy from President Putin in response to the invasion of Ukraine, official figures published today show. Fuel imports from Russia plummeted to zero in June, the first time Britain has ever recorded a complete weaning off [...]
UK told it must lift digital trade barriers August 17, 2022 Digital trade barriers risk fragmenting the world into regional and national “splinternets” unless governments agree on a shared approach to data regulation and transfers. Financial services lobby TheCityUK yesterday warned that digital trade has become increasingly difficult and costly, with restrictions on international data transfers more than doubling in the last five years. It said [...]
UK sinks into unprecedented, record-breaking trade deficit with USA as low pound balloons imports value August 16, 2022 The latest trade in goods data demonstrates a weakening trade performance of the UK with the United States, the nation’s largest single-country export partner. In Q1 and Q2 2022, the UK imported £15bn – a quarterly record – and £13.8bn worth of goods from the United States as imports bounced back from a pandemic-induced dip [...]
UK’s trade deficit widens to record £27.9bn as business with Russia reaches historic low August 13, 2022 New data showed this morning that UK’s trade deficit in goods and services widens again in Q2 to a record £27.9bn. Moreover, monthly imports from Russia dropped to meagre £33m, the lowest since records began and down from over £1.8bn in both January and February of this year. Also during Q2, imports increased by £14.3bn [...]
£16.9bn boost for Brexit Britain as UK to EU exports hit highest level ever recorded July 13, 2022 Goods exports to the EU reached £16.9bn in May, their highest level since the series began in 1997, according to the latest trade figures from the Office for National Statistics (ONS). In fact, the ONS found that UK imports and exports of goods rose overall by £2.2bn and £2.3bn respectively in May 2022. The higher [...]