The latest Overseas Trade Statistic from HMRC has revealed how UK importers have been affected by the Brexit vote and the uncertainty of the sterling.
The report reveals that in July 2016, the value of exports (EU and Non-EU) decreased to £23.9 billion, and imports (EU and Non-EU) decreased to £39.7 billion, compared with the previous month.
Total trade exports for July were £23.9 billion. This was a decrease of £0.8 billion (3.1 per cent) compared with the previous month and a decrease of £0.5 billion (2.2 per cent) compared with July 2015.
Cohen added: “Despite a 13% increase year on year for imports in Britain, it is quite clear that the UK’s importers were dealt a huge blow due to the uncertainty caused by the Brexit vote in July…