“Although the UK has left the EU, Europe remains by far its largest trading partner, both in terms of imports and exports of goods and services. For goods, the EU accounted for 47% of UK exports and 53% of its imports in 2023.In services, the EU accounted for 45% of imports and 36% of exports.
“By comparison, the UK’s traditional trade and military ally, the United States, accounted for (in the same year) ‘only’ 16% of its exports and 9.5% of its imports of goods, and 19% of its imports and 26% of its exports of services.”
 |
The United Kingdom was banking on its new-found independence to develop trade outside the European Union. This approach has not yet come to fruition.
market-insights.upply.com
|