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UK exports to European UNion drop 40% in January - Coggle Diagram
UK exports to European UNion drop 40% in January
Numbers
EU --> UK -28.8%
Economy 9% smaller : Corona
UK --> EU -40%
UK --> Non-EU +1,7%
Economy April 2020: -18,3%
Facts
--- machinery, transports equipment, chemicals, medicinals products, car imports
Steepest falls
Too much events : temporary ?
However, Eu vs non eu exports --> Clear difference (brexit)
Reasons
BREXIT
Stockpiling 2 sides of channel >< brexis deadline
Using the stock = less trade
Non-tariff barriers (meat / poultry vet checks)
+++ exporter's cost
--- likely to cross the Channel
CORONAVIRUS
British covid strain
+++ delivery delays
BUT health economy +++
Vaccine, tests, ...
Households --- discretionary expenditures
Perspectives
Better in february
A drag to economy in the first quarter of 2021
GDP back to the normal in 2022