The UK textile industry has reported its weakest month for a year, falling to a seasonally adjusted loss of $1.1 billion in February.
The UK’s trade balance with the EU and US fell by more than $300 million in February, with exports to both nations dropping by about $300m.
That means the UK’s total exports to the EU are down by $1 billion, with imports falling by more $2.2 billion.
The UK’s overall trade deficit with the US was also down by about half, by about 0.4%.
The UK textile sector has seen some of the largest falls in trade volumes and wages in the last 10 years.
The drop in textile exports has been attributed to the weakening of the UK economy, as well as an increasing threat of the North Sea oil price collapse.
However, the UK has been unable to boost exports because of the impact of Brexit, which means the sector is unable to invest in new factories and produce new products.
This year, the government is aiming to raise the minimum wage to £9 an hour by 2020.
The government also plans to increase apprenticeships, expand social housing and provide free healthcare to those who cannot afford it.
The latest data also shows that the UK is set to overtake China in the number of manufacturing jobs, with an average of 1,200 jobs created a week, while China’s annual growth rate is just 0.2%.