Britain's exports drops to lowest level since 2015

Britain’s goods exports have fallen to its lowest levels in three years due to the growing uncertainty generated by Brexit and the ongoing trade war between China and the US.

The growth of UK exports fell by 0.7 points to 94.9 in the fourth quarter of 2018, according to figures from BDO’s latest European Export Index.

Aside from the UK, Germany also saw its export growth fall 2.6 points driven mainly by the negative impact the new emission regulations for car manufacturers has had on demand.

But France was the worst performing major EU country with a collapse of 4.8 points. BDO said this was due in part to the recent protests and could cause the economy to take a further hit if they continue.

Overall, the EU export growth index rose by just 0.1 to 99.8.

BDO Peter Hemington said: “Across Europe, economic disorder has led to EU export growth stagnating. Three of the five largest EU economies are battling against political and economic chaos.

“Overseas demand has helped sustain the UK economy over the last few years and British businesses are doing all they can to remain resilient despite these challenges

“The EU remains our most important trading block but Brexit uncertainty is proving damaging. It’s crucial that Britain is seen to be open for business with the EU and other key markets as we enter what is going to be a critical year for the UK.”