Exports: EU Withdrawal

13. What recent assessment her Department has made of trends in the level of goods exports since the UK’s withdrawal from the EU.

On a similar theme to my previous answer, the UK’s total exports have recovered to pre-pandemic levels measured against 2018. In 2022, UK exports were £815 billion, up 21% in current prices and by 0.5% once adjusted for inflation.

I thank the Minister for that answer. However, since the UK left the European Union its trade surplus with the rest of the world has declined from £46 billion to £5 billion. Was it this Government’s goal to wipe out the UK’s trade surplus when they committed to leaving the European Union?

I say again that UK trade with the EU has recovered to pre-pandemic levels when measured in current prices, worth £772 billion in 2022, 14% higher in current prices than in 2018. We are making significant progress, not just with the European Union but with the rest of the world. We see our place in the world as being able to trade with the entire world, not just focusing entirely on the EU.