Seventy-percent of Franco-British companies nonetheless delayed importing from EU to UK
Contributor: Marilise Saghbini Executive Director – French Chamber |
Released: July 5, 2021
Marilise Saghbini Executive Director – French Chamber
July 2, 2021
EU import and export delays are slowing the flow of goods between France and the UK, according to a new tool from the French Chamber of Great Britain in collaboration with global data science consultancy Ekimetrics. Six months after Brexit, 70% of UK businesses are still experiencing increased delays in importing goods from Europe.
75% of companies with import delays are more than a week, and over 18% report delays of more than 3 weeks. With the entry into force of more stringent regulations and controls from July 1, these effects could increase as over a quarter (27%) of companies are already reporting a decline in their import volumes.
The French Chamber of Great Britain, which supports the Franco-British economy, has commissioned the new tool to monitor the effects of Brexit on the cross-channel business in the medium to long term.
The data shows that exports to the EU were also affected, with almost half (47%) of companies experiencing delays in the first quarter of 2021, with 22% of those delays lasting longer than two weeks.
Despite the delays, only 17% of companies said the volume of goods exported to the EU had decreased, with the majority (71%) saying it had remained the same. For imports, 67% of companies reported increased logistics costs, while this figure was lower for exports at 48%.
Meanwhile, the UK continues to have a strong pull: 67% of companies say they have kept their UK workforce the same, while just over a fifth (21%) of companies have reduced their UK workforce and expanded it into the EU .
Marilise Saghbini, General Manager of the French Chamber, commented: “This dashboard will help keep track of the state of the Franco-UK business, especially as the effects of the pandemic wear off, and provide data to inform decision-makers as the post-Brexit chapter is designed. We see challenges exist and possibly more to come, but companies will continue to bring pragmatism to the table, backed by the depth and breadth of the Franco-UK relationship, to build beyond Brexit and promote jobs and growth that are so urgently needed in the countries after Covid. “
Matt Andrew, UK Managing Director, Ekimetrics added, “Our data analysis provides a unique insight into the true picture of trade between France and the UK and provides the French Chamber with vital real-time information that enables it to make dynamic and informed decisions about the support it offers its members. “
The data is part of a live dashboard created by Ekimetrics for the French Chamber of Great Britain that monitors the impact of Brexit on companies operating between France and the UK.
