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In the first month after Brexit, Great Britain posted heavy foreign trade losses, collapsing by 41% in exports to the EU in January, coupled by a loss of 29% in imports. According to the British Statistical Authority, the foreign trade numbers are dramatically bad as the transition is problematic for many companies trading with the economic zone. It cited the export of fresh food such as fish to the EU which fell by two thirds in January. The new bureaucracy and the regulations brought about by Brexit are complex for many fishermen, noted the authority.
By Milan Sime Martinic