Economics – Exports to the EU bounce back
20 July 2021UK food, drink and tobacco exports to the EU were strong in May 2021.
UK food, drink and tobacco exports to the EU were strong in May 2021.
According to ONS data, UK traders sent £1.2bn worth of these goods to Europe, which represents a sudden return to “normal” levels after a period of disruption in the first months of the year.
This may reflect improved capability amongst UK traders with respect to EU border procedures, as well as increased willingness to buy UK-origin food on the European side.
Food and drink imports from the EU remain depressed, however, at only £2.8bn. This is more mysterious, since the UK government has not yet applied full border procedures to goods from the EU.
Click here to enlarge chart
More economic news and analysis
Sign up to our bulletin
Our round-up of the latest economic and political news, focused on FMCGs