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UK-EU Trade

ÌÇÐÄÆƽâ°æ overview report on the status quo of the EU-UK trade in light of Brexit

On June 23, 2016, the United Kingdom (UK) voted to leave the European Union (EU), and as of January 31, 2020, it is no longer a member country. After many clashes and retractions, a deal was finally reached at the eleventh hour on December 24, 2020, just one week before the deadline. With that, a new chapter has begun in the economic relationship between the UK and the EU. That chapter is called the UK-EU Trade and Cooperation Agreement (TCA), and it will define the framework of trade on both sides for years to come.

With the new UK-EU Trade and Cooperation Agreement (TCA) in mind, this report looks at the new terms of the UK's international trade with the European single market, with a special focus on the topics and challenges posed by Brexit, i.e. British fisheries, Northern Ireland, and the status of London as Europe's financial hub. The study concludes with the current status of the UK's post-Brexit economic partnerships and forecasts on possible trade scenarios.

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Table of contents

UK’s international trade flows

  • The UK's trade balance at a glance
  • UK-EU Trade and Cooperation Agreement (TCA)
UK-EU trade in goods
  • Country and commodity highlights
  • Changes to goods trade under the TCA
Agro-food trade and fisheries
  • Food trade
  • Fisheries
Trade across the Irish Sea
  • The Northern Ireland protocol
  • Ireland and the UK
UK-EU trade in services
  • UK as a services exporter
  • The City of London
Outlook
  • Status quo
  • Forecasts

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