Manufacturing takes £18bn value hit after Brexit and Covid-19

Five UK regions saw dependence on the EU for exports fall leading up to Brexit with the pandemic also wiping £18bn off manufacturing value between 2019 and 2020

According to an analysis published by Make UK and business advisory firm BDO, it found that even with the recent improvements to trade the most recent quarterly trade data showed that exports to the EU in Q1 were still 16% below Q1 2019.

The Annual Regional Outlook report found that only the west Midlands and Scotland actually saw exports to the EU slightly increase. 

Make UK stated that this shows that the political uncertainty caused by Brexit was felt even before the actual departure as many companies were already choosing not to supply the EU or, that EU customers are turning away from UK-based firms.

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