Trade will shrink in importance for the UK economy over the next ten years, according to a sobering report by Boston Consulting Group. Between 2023 and 2033 UK trade will grow by 0.7 per cent per year but GDP will grow at 1.6 per cent annually over the same period, the report said, thanks to declining transactions with key markets beyond just the EU. The figure is well below Boston’s estimate of a global trade growth average of 2.9 per cent and is itself a downward revision from its report last year in which it forecast UK trade growth of 0.9 per cent over the decade. “If you are a country like the UK’s historically been, that sees the growth that comes from trade as

Source: The Times January 13, 2025 17:09 UTC