Suffering of UK Small Exporters After Brexit - Kakiforex | Forex markets for the smart money. Suffering of UK Small Exporters After Brexit Suffering of UK Small Exporters After Brexit

March 29, 2021

Suffering of UK Small Exporters After Brexit

 More than one -fifth of Britain’s small exporters temporarily halted their sales to the European Union (EU) and 4% of them did so permanently, according to a survey reported by Reuters in highlighting problems that arose after the Brexit trade deal.


The trade agreement between the UK and the EU which came into force on 1 January has caused disruption and delays for some companies that have to deal with bureaucracy and new regulations, as well as incurring increased costs.


In a survey by the Federation of Small Businesses (FSB), 30 out of 132 exporters said they had stopped sales to the EU temporarily, while five others reported having stopped them permanently.



The government had previously said that some of the problems that arose were only temporary in nature and it was working to resolve them.


Britain’s exports to the EU, excluding gold and other precious metals were reported to have fallen by 40.7% in January compared to those recorded in December, while imports fell by 28.8%, the Office for National Statistics (ONS) reported.


In response to the figures, Brexit chief negotiator David Frost said a combination of several factors made this situation inevitable.