The International Chamber of Commerce (ICC) featured International Economics a second time in the 4th Edition of Trade for Prosperity. We provided informative infographics on the trends and shifts in trade between the UK and the EU post-Brexit and the impact of new Free Trade Agreements (FTAs) on the UK’s major export sectors in 2021. Trade in goods and services has slightly shifted away from the EU, with the share of UK exports to the EU falling from 47% in 2020 to 42% in 2021. Despite this shift, the UK’s market share in EU imports only marginally fell from 3.6% in 2020 to 3.3% in 2021. The report highlights the top five export sectors to the EU, namely machinery, chemicals, vehicles, minerals, and base metals, with machinery being the leading exporting sector.
Furthermore, the report sheds light on the significant sector changes in trade in goods and services with new FTAs. It also highlights the considerable sector changes in trade with new FTAs and provides forecasts for UK’s goods and service exports and imports with the EU until 2025.
We invite you to read the full publication to gain insights into the latest trends in international trade.