Journalism is dead. This is a good example, NI GDP has recovered faster than rest of the UK, ‘so it must be the protocol’. People are so lazy, they don’t bother considering anything else.
For example, why has UK GDP still not returned to pre-pandemic levels (as of Q3)? A major part of that is due to how important services exports (and imports) are to the British economy – far more so than in the country’s peers.
With the onset of the pandemic, international services trade declined sharply, and (unlike goods) has still not recovered. It’s not a Brexit thing either, it’s a pandemic phenomenon; you can see the same thing in the US e.g. in Q4 2019, the US exported $70bn of services to the EU, it collapsed to around $40bn in 2020 and has *still not recovered* as of Q2 2021. That’s crazy when you think about, the numbers remain down around 40% as of *six quarters* into the covid crisis.
Going back to the UK, London is the heart of the UK’s services economy, and exports are therefore far more relevant to England than to any of the other constituent regions of the UK. Northern Ireland is considerably less reliant on international services trade, indeed less so than Scotland. And what you’ll find is that that those parts of the country where the international services economy is smaller have recovered more of their pre-pandemic GDP to date.
The protocol is barely being implemented at the moment due to the grace periods still being in effect. So this is basically without the protocol.
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Journalism is dead. This is a good example, NI GDP has recovered faster than rest of the UK, ‘so it must be the protocol’. People are so lazy, they don’t bother considering anything else.
For example, why has UK GDP still not returned to pre-pandemic levels (as of Q3)? A major part of that is due to how important services exports (and imports) are to the British economy – far more so than in the country’s peers.
With the onset of the pandemic, international services trade declined sharply, and (unlike goods) has still not recovered. It’s not a Brexit thing either, it’s a pandemic phenomenon; you can see the same thing in the US e.g. in Q4 2019, the US exported $70bn of services to the EU, it collapsed to around $40bn in 2020 and has *still not recovered* as of Q2 2021. That’s crazy when you think about, the numbers remain down around 40% as of *six quarters* into the covid crisis.
Going back to the UK, London is the heart of the UK’s services economy, and exports are therefore far more relevant to England than to any of the other constituent regions of the UK. Northern Ireland is considerably less reliant on international services trade, indeed less so than Scotland. And what you’ll find is that that those parts of the country where the international services economy is smaller have recovered more of their pre-pandemic GDP to date.
The protocol is barely being implemented at the moment due to the grace periods still being in effect. So this is basically without the protocol.