The Cost of Brexit, January 2021: The End of Transition Edition

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Publication Date March 2921
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New analysis by the Centre for European Reform finds that leaving the EU’s single market and customs union led total UK goods trade to fall by 22 per cent, relative to a modelled Britain that remained within the single market and customs union. This figure will improve in future months as businesses adapt to the new arrangements. But January’s trade losses are on top of our other estimate, which shows that Brexit had already led to a 10 per cent reduction in total UK goods trade between the referendum in 2016 and the end of the transition period, which finished on 31st December 2020.

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CER Insight: March 2019: The Cost of Brexit to December 2018: Towards Relative Decline?

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