UK's exports 'to grow by £37 billion' says Liz Truss
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According to the latest figures from the Office for National Statistics (ONS), UK exports to the EU increased by £14.3billion and imports increased by £19.1billion in June. The numbers also show that total export of goods fell by 2.2 percent because of a 5.6 percent drop in exports to non-EU countries. UK’s exports to the EU decreased in January after the country left the bloc’s single market and customs union.
Businesses were bombarded with plenty of paperwork and customs bureaucracy that left many to consider whether it was profitable to continue trading with the EU.
Trade figures, however, have now bounced back as exporters managed to navigate around the post-Brexit red tape.
The figures were released after the ONS revealed the UK economy grew 4.8 percent in the second quarter of this year.
The increase means that GDP is now 4.4 perent below where it was in the last quarter of 2019, before the COVID-19 pandemic began.
The news comes after a new report revealed that exports are now 20 percent higher than they were five years ago.
The authors of the report claimed their analysis has put “yet another nail in the coffin of the doomsayers” who predicted quitting the bloc would be a disaster.
Pro-Brexit think tank Facts4EU reached their striking conclusions after studying the Office for National Statistics’ latest trade figures, for the second quarter of the year up to the end of June.
These showed exports to the EU have rebounded by 31.5 percent compared with the previous quarter.
In addition, the total value of UK exports to EU27 countries stood at £38.6billion – £8.4billion higher than in the second quarter of 2016, just before the momentous vote, a rise of one-fifth.
Leigh Evans, Facts4EU’s editor-in-chief, said: “For the benefit of our international readers, it is impossible to overstate the level of state-sponsored pro-EU propaganda to which the British public was subjected before the EU Referendum.
“Facts4EU.Org’s report today puts yet another nail in the coffin of the doomsayers and pro-EU propagandists who perpetrated a malign, dispiriting, and apocalyptic campaign, portraying a defeated, insignificant country facing a bleak non-EU future.”
Mr Evans added: “Many challenges still lie ahead, principally because of the punishment beating which the EU seems determined to inflict on the United Kingdom for daring to leave.
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“In the coming days we hope to publish an exclusive account of the experiences of one British businessman in Spain, attempting to import goods from the UK.
“None of the negativism of the EU and its propagandists can detract, however, from the latest trade figures.”
Additional reporting by Melanie Kaidan
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