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Business & Finance

Britain's EU exports rebound by 46.6% in February: data

  • "However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade."
13 Apr 2021

LONDON: Exports of British goods to the European Union rebounded by almost 50 percent in February, after slumping by a record amount in January following Brexit, official data showed Tuesday.

The value of UK goods exported to the EU jumped by 46.6 percent or £3.7 billion ($5.1 billion, 4.3 billion euros) from the prior month, the Office for National Statistics said in a statement.

The nation's EU exports had nosedived by a record 42 percent or £5.7 billion in January.

"Exports to the EU recovered significantly from their January fall, though still remain below 2020 levels," said an ONS spokeswoman.

"However, imports from the EU are yet to significantly rebound, with a number of issues hampering trade."

The value of EU goods imported into Britain rose by 7.3 percent or £1.2 billion in February, after a record fall of 29.7 percent or £6.7 billion in January.

Britain's Brexit divorce took full effect at the end of last year.