London, UK - Trade between the United Kingdom and the European Union has significantly declined since Brexit. British brands, including Burberry and Vivienne Westwood, have experienced a notable drop in clothing and shoe exports to the EU.
The value of British goods exports to the EU fell by 27% between 2021 and 2023. Imports also dropped by 32% during the same period. New tariffs and bureaucratic hurdles are cited as contributing factors.
The UK is now seeking closer cooperation with the EU at a summit in London. The decline in trade has led to increased prices and some companies relocating production to the EU.