Since Brexit kicked in early this year, the UK’s trading has shrunk while the EU’s is thriving despite the British Government attempting to keep the many trade deals it had as a member of the European Union.
Since January 1, Liz Truss has assisted in establishing several deals, kicking off ambitious targets to cover 80 per cent of trade in the UK with free trade agreements by 2022.
However, Bank of England data reveals that, despite her efforts, trading in the UK is shrinking.
Data released on December 3 from the Bank of England has revealed the UK’s trading habits over the past 24 years, showing that at the beginning of the millennium the UK was almost level with the rest of the bloc with each reporting trade worth between 50 and 60 per cent of GDP.
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