After leaving the EU, Britain has struggled to maintain trade volumes with European countries, and is now seeking closer cooperation with the bloc at a sumit in London.
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00:00Burberry, All Saints, Vivian Westwood, Stella McCartney, these British brands are popular abroad.
00:07But exports of clothing and shoes from the UK to the EU have dropped significantly since Brexit.
00:13Overall, exports of non-edible goods to countries in the EU single market have fallen by a fifth since the UK left the EU in 2023.
00:22Growth in goods trade has been a lot less since 2021, even allowing for the effects of the pandemic and the war in Ukraine.
00:33And that's down to the additional trade barriers which businesses in agri-food, chemicals, automotive and other sectors have based in terms of getting goods across from GB into the European Union.
00:49Overall, the value of British goods exported to the EU fell by 27% between 2021 and 2023,
00:58the years immediately following the UK's exit from the EU Customs Union and single market.
01:03The value of imports fell by 32%.
01:06In addition, the number of British exports has fallen, according to researchers.
01:13Each EU country now imports at least 1,600 fewer British products.
01:17This is due to new tariffs and bureaucratic hurdles, which has spurred some companies to relocate production to a country inside the EU.
01:26While others, particularly small British exporters, have stopped trading with the EU altogether.
01:33Sluggish trade has had consequences on daily life in Britain.
01:36Many things are more expensive.
01:38Analysts expect Brexit to diminish growth by 4%.
01:42We want to see a high ambition reset of our trading terms with the European Union.
01:49So, an end to safety and security declarations on goods moving from Great Britain to the European Union.
01:57Improvements in our VAT arrangements with the EU.
02:01Looking at being part of European supply chains with rules of origin that reflect that.
02:08And, of course, a youth and business mobility deal.
02:10Currently, strict visa restrictions make it difficult for young people to complete internships or work in the UK.
02:18Nevertheless, while some sectors have suffered after Brexit, others are doing well.
02:24Sales have increased in the health and beauty sector, for example.
02:27And contrary to all the warnings, services such as banking transactions have also increased.
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