Brexit trade drop to bring 0.5% UK GDP hit in 2021, forecasts show

Official trade volume statistics are not due out until next Friday, however the OBR cited a 10% to 15% drop in heavy goods vehicle traffic.

Lorry drivers were forced to go through health screenings at the EU border in December and January. Picture: Gareth Fuller/PA

The UK’s economy is expected to take a hit in the first quarter of 2021 because of complications at the EU border caused in part by Brexit, according to a new estimate.

Britain's Office for Budget Responsibility (OBR) said that trade is expected to have reduced between the UK and the EU, in part because of new restrictions introduced when the transition period ended.