Brexit costing Scotland billions

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By Newsroom

Tom French, Director of Communications for the SNP at Westminster posted this thread on Twitter over the weekend and we thought it important to share with readers who may not have seen it. The evidence of the shambles of Brexit grows day by day.

New analysis shows the UK is the only country in north west Europe to have suffered a decrease in exports since the Brexit vote in 2016. Far from increasing trade, as Boris Johnson promised, the UK has suffered a downturn – costing £billions #BrexitChaos

While Ireland has increased its volume of exports in goods and services by 48.1% over the past five years, the UK has seen a decrease of 5.5%. That puts it behind all thirteen neighbouring countries – and the only country to see a decline.

Sources House of Commons Library, IMF data

On average, independent countries of Scotland’s size or smaller have recorded the biggest increase in exports since 2016 at +16.7%, compared to an average increase of +11.9% for all countries in north west Europe.

Sources: House of Commons Library, IMF data

When the impact of Covid-19 is taken into account, and figures compared from 2020, the UK still has the worst decline in exports of any country in north west Europe at -19.3%.

The analysis also shows that in the first quarter after joining the EEC, the total value of UK goods exports increased by +16% compared to 1972. In contrast, in the first quarter of 2021 following the Brexit deal, the total value of UK goods exports fell by -11% compared to 2020.