Trade between Britain and the EU in January was the lowest since records began in 1997, according to the Office for National Statistics.

British exports to the EU plummeted 40.7 per cent (£5.6 billion) and imports from the bloc also fell sharply 28.8 per cent (£6.6 billion). These sharp drops in trade with the UK’s biggest trading partner have had a big impact on the UK’s overall trade figures with total exports dropping by 19.3 per cent (£5.3 billion) and imports falling by 21.6 per cent (£8.9 billion).