Exports from UK businesses into the EU trading bloc are starting to recover following Brexit and the impact of Covid-19, but almost half of firms say total trading volume is still less than it was.
In a webinar hosted by Pail McComb of the Department for International Trade, data shared indicated that exports to the continent have increased 11% in four quarters to 2022, noting that ‘in overall trade we’re definitely seeing an increase, and the trend is in the right direction, but maybe the pace of recovery isn’t quite as quick as we would have wanted’.
Data from delegates on the webinar pointed to 45% saying that their exports to the EU had been negatively impacted, with a quarter saying things were about the same as before Brexit. Just 3% said export volumes have increased over the period.
Watch the webinar in full below:
Issues with new compliance and regulations was cited as the main reason why UK exporters were meeting challenges, with 47% saying that compliance with the new rules was their primary problem, whilst one in three said new additional costs were hampering export efforts.
If your business has faced challenges exporting into the EU following the UK’s departure from the Single Market, then Go Exporting can help.
We have three free resources you can access right now to help check where you are right now, and to plan for the procedural and strategic changes you should be making to ensure your business can look to capitalise on the potential benefits of Brexit, as well as advice for EU firms looking to export into the British Isles.
Access our resources below: