HMRC data confirms: Brexit has decimated UK exports

[clearedforlanding]

It is worse than decimated. Decimated is 10% - the actual figures are 33% from 2020 - 2021, Think about that 2020, was peak lockdown.

https://www.thelondoneconomic.com/ne...xports-335181/

[pr1]

point of note (from clicking into the article) - the headline 33% drop reported is the reduction in the number of businesses exporting, it doesn't mention anything about value of exports - though presumably there will be some level of correlation

[DealorNoDeal]

I'm sure vetran will be along shortly to "fact check" the article.

[vetran]

I'm sure vetran will be along shortly to "fact check" the article.

Why not its a service you lot obviously need. The number of business is clearly presented as an estimate. Export value is actually recorded.

https://tradingeconomics.com/united-kingdom/exports

Exports of goods and services from the UK rose by 4.2% from a month earlier to GBP 61.05 billion in July of 2022, amid increases to both the EU (7.9%) and non-EU countries (6.4%). At the same time exports of services were up 0.6%. Within goods, sales grew primarily for machinery & transport equipment (7.1%), fuels (13%), material manufactures (7.1%), chemicals (5.9%), beverages & tobacco (10.4%) and food & live animals (7.1%). source: Office for National Statistics

We are back to August 2019 levels 61.05 Billion not quite at the panic buying levels of Dec 2019 but heading that way. When that happens will all you remoaners admit you were wrong?

Maybe all those businesses that exported to the EU have changed to exporting to USA?

[WTFH]

We are back to August 2019 levels 61.05 Billion not quite at the panic buying levels of Dec 2019 but heading that way. When that happens will all you remoaners admit you were wrong?

August 2019, £61.05b = $75b
July 2022, £61.05b = $71b

So, due to GBP tanking, we can sell the same amount in GBP, but it's still a 5% reduction on the global market.

Glad you think that a shrinking economy is something to rejoice over.

[NotAllThere]

Exports of goods and services from the UK rose by 4.2% from a month earlier to GBP 61.05 billion in July of 2022

June GBP 58.6 billion to GBP 61.05 billion in July.
June USD 71.7 billion to USD 71.6 billion in July.

Perhaps not good news then.

[vetran]

August 2019, £61.05b = $75b
July 2022, £61.05b = $71b

So, due to GBP tanking, we can sell the same amount in GBP, but it's still a 5% reduction on the global market.

Glad you think that a shrinking economy is something to rejoice over.

Hmm I suspect Brexit was the cause of the pound falling against the dollar to the same extent in 1985, 2001 etc?

https://www.poundsterlinglive.com/ba...gbp/GBP-to-USD

or the Euro to USD in 2000? Odd that their currency across multiple countries is more volatile the GBP?

https://fxtop.com/en/historical-exch...J=0&MM1Y=0&TR=

When was Swexit 2000?

https://fxtop.com/en/historical-exch...J=0&MM1Y=0&TR=


To quote one of the few things SASGoo got right "correlation is not causation".

I like the way you get so emotional about it all.

USD is on the rise it buys 20% more Euros and pounds than it did a few years ago. Have a look at the graphs EUR & GBP are similar.

[clearedforlanding]

Hmm I suspect Brexit was the cause of the pound falling against the dollar to the same extent in 1985, 2001 etc?

https://www.poundsterlinglive.com/ba...gbp/GBP-to-USD

or the Euro to USD in 2000? Odd that their currency across multiple countries is more volatile the GBP?

https://fxtop.com/en/historical-exch...J=0&MM1Y=0&TR=

When was Swexit 2000?

https://fxtop.com/en/historical-exch...J=0&MM1Y=0&TR=


To quote one of the few things SASGoo got right "correlation is not causation".

I like the way you get so emotional about it all.

USD is on the rise it buys 20% more Euros and pounds than it did a few years ago. Have a look at the graphs EUR & GBP are similar.

A very well presented and referenced argument thank you. You continue to reassure me that none of the economic problems in this country are due to Brexit.

[WTFH]

Have a look at the graphs EUR & GBP are similar.

Yes, very similar...

https://www.xe.com/currencycharts/?f...to=EUR&view=1M

€1.21 in March, €1.19 in August, €1.14 today. Practically no change at all.

Go back to August 2015 and it was €1.43. Can't think of anything that happened in 2016 onwards that would have caused the currencies to be so "similar"

[clearedforlanding]

Yes, very similar...

https://www.xe.com/currencycharts/?f...to=EUR&view=1M

€1.21 in March, €1.19 in August, €1.14 today. Practically no change at all.

Go back to August 2015 and it was €1.43. Can't think of anything that happened in 2016 onwards that would have caused the currencies to be so "similar"

I am sorry but I cannot believe your historical FX 'facts' going back to 2015 are in any way relevant to the current situation. I find Vetran's explanation definitive.