Exports from the UK to the EU rose by £3.7 billion (46.6%) in February compared to the month before, according to the Office for National Statistics (ONS).

This came after a record fall in British exports to the EU of -42%, or £5.7bn, after disruption to the regular flow of trade caused by post-Brexit rule changes and COVID-induced restrictions and delays.

Increases in machinery and transport equipment, and chemicals, boosted exports to the EU by £1.3bn and £0.9bn respectively.

Imports from the EU, excluding non-monetary gold and other precious metals, also increased by a weaker 7.3%, or £1.2bn in February after a record collapse of -29.7%, or £6.7bn, in January.

The boost in exports of chemicals was driven specifically by Belgium's rising demands for medicinal and pharmaceutical products after significant rises in European COVID-19 cases throughout February.

Exports to non-EU countries fell by £1.5bn (-10.5%) in the same period, however, while imports increased by £1.7bn (10.2%) compared to January.

In all, the total trade deficit for February 2021 also widened by £0.5bn to £1.4bn.

Talk to us about trading overseas.


Subscribe To Our Newsletter

By submitting your details you agree to receive email marketing from BSG Valentine and have read and understood our Privacy Notice. You can withdraw your consent or change your preferences at any time by emailing us or by clicking the link at the bottom of every email we send you.

You have Successfully Subscribed!