UK imports rebound to pre-pandemic levels

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UK imports rebound to pre-pandemic levels

It is the same story for imports - volumes have recovered to pre-pandemic levels. Academics at the London School of Economics pointed out that the price of food imported from the EU - like tomatoes, or potatoes - went up by as much as 6% over 2020 and 2021. If you look at the UK's trade with the rest of the world, as well as trade with the EU, it has fallen relative to the size of the UK economy. Trade hasn't bounced back post-pandemic, as fast as it has in other major nations, it has become less important in contributing to our prosperity. Britain has become less open. Since the referendum, investment has stalled as businesses are wary of the outlook for the economy. If the UK continued its pre-referendum trend, it might be 25% higher than it is now, according to the think tank the UK in a Changing Europe.