Brexit Trade Deal Leads to Significant Contraction in UK Exports.
Brexit has had a big negative impact on UK trade with the EU. The researchers used data from 2019 to 2022 and a method called synthetic difference-in-differences to compare what happened with what could have happened. They found that UK exports to the EU have decreased a lot since the EU-UK Trade and Cooperation Agreement was put in place. This means UK companies are facing challenges in selling goods to the EU. The UK has also been exporting fewer types of goods to the EU, which could be a problem for its future trade and productivity.