Skip to content
Economics
Trade

UK Trade Deficit With EU Hits Record as Brexit Curtails Exports

  • Exports to EU slump after customs check pop up at the border
  • UK is unique among major economies in adding to trade friction
Trucks at the Port of Dover Ltd. in Dover, UK.

Trucks at the Port of Dover Ltd. in Dover, UK.

Photographer: Jason Alden/Bloomberg
By

The UK’s trade deficit with the European Union widened to a record in the final quarter of 2022 as imports from the bloc jumped.

The shortfall in the balance of trade in goods ballooned to £32.9 billion ($39.9 billion) in the three months to December, according to official data, the largest gap since records began in 1997.