There has been a period of economic adjustment since the United Kingdom (UK) departed the European
Union (EU) on January 31, 2020. It is challenging to distinguish the implications of Brexit from those of
the COVID-19 pandemic given their combined significance for the UK economy. Yet, there are some
signs of the economy's performance following the Brexit.

1. Trade: The UK's trading links with the EU and other nations have changed as a result of Brexit.
The UK's exports of products to the EU decreased by 14.5% in January 2021 compared to
December 2020, according to the Office for National Statistics (ONS). Yet, 1.7% more of the UK's
goods were exported to non-EU nations.

2 GDP: The UK economy shrank by 9.9% in 2020, the biggest annual GDP decline since the Great
Freeze of 1709, according to the ONS. When the lockdowns were lifted in 2021, the UK economy
has, however, begun to show signs of improvement. The UK economy expanded by 1.3% in the
third quarter of 2021. Gross Domestic Product (GDP) Q3 2021 Estimate, UK, Office for National
Statistics, seen March 5, 2023,
3 Employment: The ONS reports that between February 2020 and September 2021, the UK's
unemployment rate rose from 3.8% to 5.3%. Nonetheless, the number of payroll workers in the
UK has been rising since the beginning of 2021 and reached pre-pandemic levels in August of
that same year.