Five years post-Brexit, the UK faces significant trade challenges stemming from new non-tariff barriers despite negotiating a free trade deal with the EU. Economists generally agree that leaving the EU single market and customs union has harmed goods trade, with estimates of a decline in exports varying widely. Small businesses are particularly struggling with the complexities of post-Brexit trade, while UK services exports have surprisingly thrived since 2021, indicating a mixed landscape in the aftermath of the EU divorce.
Economists and analysts have assessed the impact of Brexit on the UK's goods trade as having been negative, despite avoiding tariffs through a free trade deal.
Small UK firms appear to be more adversely affected by post-Brexit cross-border bureaucracy, as they struggle more than larger firms with new paperwork requirements.
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