Chart 2.E: EU and non-EU goods trade

The initial impact of Brexit on UK trade with the EU

Since our first post-EU referendum EFO in November 2016, our forecasts have assumed that total UK imports and exports will eventually both be 15 per cent lower than had we stayed in the EU. This reduction in trade intensity drives the 4 per cent reduction in long-run potential productivity we assume will eventually result from … Continue reading The initial impact of Brexit on UK trade with the EU

Office for Budget Responsibility