UK Trade in the Time of COVID-19:A Review


This paper offers a detailed review of the UK’s trade performance during the COVID-19 crisis and reflects on how this may be revived. During 2020, UK goods exports contracted more sharply than those of its international peers. Statistics suggest that UK had a deeper decline and slower recovery than Germany, Italy, Spain and the US. Further, the trends from 2017 to 2019 show a weakening in the UK’s global competitiveness, suggesting a more persistent development against the backdrop of productivity slowdown and Brexit uncertainty. We analyse the confluence of internal and external factors that impact on UK trade and emphasise the importance of boosting productivity in the recovery from the COVID crisis and Brexit.

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Divisions: College of Business and Social Sciences > Aston Business School > Centre for Personal Financial Wellbeing
College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship
College of Business and Social Sciences > Aston Business School
Additional Information: This is the peer reviewed version of the following article: Du, J. and Shepotylo, O. (2021), UK Trade in the Time of COVID-19: A Review. The World Economy. Accepted Author Manuscript. which has been published in final form at  This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving. Funding: Lloyds Banking Group.
Uncontrolled Keywords: COVID,Export,UK,Accounting,Finance,Economics and Econometrics,Political Science and International Relations
Publication ISSN: 1467-9701
Last Modified: 17 Jul 2024 07:11
Date Deposited: 27 Jul 2021 10:18
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Related URLs: https://onlinel ... 1111/twec.13220 (Publisher URL)
http://www.scop ... tnerID=8YFLogxK (Scopus URL)
PURE Output Type: Review article
Published Date: 2022-05
Published Online Date: 2021-10-26
Accepted Date: 2021-07-25
Authors: Du, Jun (ORCID Profile 0000-0002-0449-4437)
Shepotylo, Oleksandr (ORCID Profile 0000-0003-4990-6025)



Version: Accepted Version

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