Despite Brexit Challenges, UK Exports to EU Show Positive Trend

British exports to the European Union are showing signs of recovery following the combined disruptions of Brexit and the COVID-19 pandemic, although the pace of this recovery is not as rapid as initially anticipated. Paul McComb, who serves as the Director of Exports for the Department for International Trade (DIT), offered this perspective during a recent webinar titled 'How to reboot your exports to the EU,' hosted by the Institute of Export & International Trade (IOE&IT) on October 6th.

According to McComb, there has been an encouraging 11% increase in exports to the continent over the four quarters leading up to the first quarter of 2022, indicating a gradual improvement in trade relations. However, despite this uptick, trade volumes between the UK and the EU still lag behind pre-Brexit levels. In fact, during the webinar, 45% of participants reported that their exports to the EU have been adversely affected by the changes introduced post-Brexit.

A recent survey further underscored the challenges faced by exporters, with a quarter of respondents indicating that they are currently exporting at similar levels as before, while only a mere 3% reported an increase in export activity.

In response to McComb's observations on the trajectory of UK-EU trade, he emphasized that while there is indeed a positive trend in overall trade, the pace of recovery may not be as swift as desired.

As part of his presentation, McComb outlined the steps being taken by DIT and the wider government to bolster support for traders, including the implementation of initiatives such as the Export Support Service (ESS). These efforts reflect a concerted commitment to assisting businesses in navigating the evolving trade landscape and overcoming the challenges posed by Brexit and the ongoing pandemic.

The Institute of Export & International Trade continues to serve as a valuable resource for exporters, providing guidance, insights, and opportunities for networking and collaboration within the global trade community.