The impact of Brexit on the UK economy

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It's been three years since Britain left the European Union

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Since then there has been an epidemic, rapidly followed by an energy crisis.

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This has made it difficult to understand what exactly the impact of Brexit has been

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Latest data suggest a hit to the economy but suggest some unexpected way

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With the UK exiting the single market and customs union in 2021, companies doing business with the EU face new rules, new paperwork and new scrutiny on some good

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Doubts have been expressed over what will happen to the £550 billion trade between the UK and its closest trading partner

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There was an initial drop in the amount Britain exports to the EU, with trade volumes returning to pre-pandemic levels, according to official data.

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When the British Chambers of Commerce recently surveyed 500 firms, more than half said they were still struggling with the new system.

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On the other hand, it has made it easier for domestic food producers to compete, with economists saying they would have received a £5 billion boost.

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Most countries saw international trade fall at the height of the pandemic; since then, the rest of the G7 countries have seen trade, when compared to the size of their economies, not the UK.

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There have been 71 trade deals in total, which is rapid progress, but the vast majority replicate deals made when the UK was part of the EU.

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Trade deals with some of the biggest players such as the US and China remain elusive.

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