Brexit: Trade
The question
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of the UK's departure from the European Union on trends in the level of UK trade.
Answered by Mr Douglas Alexander
The EU is a significant trading partner for both goods and services, but it is clear that the current deal is not working well enough. In the 12 months ending September 2024, the UK’s total trade with the EU was 5% below the level seen in 2018, after removing the effect of inflation and excluding precious metals. We will continue to work with our European friends to improve the UK’s trade and investment relationship with the EU, tearing down unnecessary barriers to trade to help drive growth.
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