The first year of the UK's post-Brexit trade agreement with the European Union saw a "major shock" with imports falling by 25% relative to those from elsewhere, research by academics has found.
But exports to the bloc avoided a sustained decline, with a smaller and only temporary drop relative to the rest of the world, the analysis found.
The Centre for Economic Performance (CEP) at the London School of Economics and Political Science, which produced the analysis, claims it is the most comprehensive study yet into the effects of Brexit on trade between the UK and EU.
