April 14, 2021

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More than 20% of UK small exporters have stopped selling to the EU

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Economy

Sputnik explains to you in simple words the complex economic processes.

Despite the undeniable protagonist epidemic in 2020 and 2021, Brexit is wreaking havoc on the economy as well. As a result, more than 20% of small British exporters have suspended sales to the EU, while 4% have already done so permanently, according to a Reuters study.

This was largely due to the London-Brussels trade agreement, which came into force on January 1 Interruptions and delaysCompanies had to deal with a new bureaucracy and new rules.

This was revealed by the Federation of Small Businesses (FSP, abbreviated in English). In research, 30 out of 132 exporters Respondents said they had suspended sales to the EU, with five saying they had done so permanently.

In addition, the study, conducted between March 1 and 15, shows that more than 10% of people in or around an EU country think about it.

“Businesses internationally are plagued by incredible demand and unfamiliar paperwork. What we hoped would become a starting point is in danger of becoming a permanent and legitimate one,” said FSB National President Mike Cherry.

The British government had previously stated that some of the problems were temporary and that it would seek to resolve them.

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These are not the only data of concern. Exports of British goods to the EU, in addition to non-currency gold and other precious metals It fell to 40.7% in January 2021 According to the National Statistics Office, imports fell by 28.8% compared to December 2020.

For his part, David Frost, chief Brexit negotiator for the Boris Johnson government, said “a combination of unique factors inevitably sees some unusual numbers.”

Distinctive factors that Frost mentions Associated with COVID-19, Which has affected savings and trade flows.