What Impact Has Brexit Had on UK Trade?

Dr Thomas Sampson is Associate Professor of Economics at the London School of Economics. He says we shouldn't be too impressed to see trade rise in cash terms if it's fallen after adjusting for inflation. The ONS publishes a measure that looks at trade volumes, therefore removing the effect of inflation. Look at those volumes for September 2019 and September 2022, and you'll see that exports in imports to and from the EU are down. To and from the rest of the world, exports are also down, but we're importing more.