Brexit: British Chamber of Commerce reports historically poor export figures

The business situation of British exporters has not been good for a long time – and it has deteriorated again since the United Kingdom’s final withdrawal from the European Union (EU) trade union at the beginning of the year.

This is proved by the figures that the British Chamber of Commerce BCC has now published. 41 percent of exporters on the island report a decline in sales in the first three months of the current year 2021 – even though the global economy and world trade have indeed been picking up momentum for some time.

The danger of “irreversible weakness”

40 per cent made no change to the Chamber of Commerce in business, and only 20 per cent of British companies said their sales had increased. “It was the worst export figures ever recorded in the history of our data recording,” said Bloomberg news agency Hannah Essex, co-head of the Chamber of Commerce.

It is true that the British government always states that failures in the export business are “early problems”, a kind of childhood disease that will quickly go away after Brexit. Essex rejected him. Conversely, they are “structural problems that, if not further addressed, can lead to long-term and possibly irreversible weakness.”

Compared to already pathetic previous quarters, the situation has become worse. For the survey, 2900 British companies with an export business were interviewed.

However, companies across the continent also suffer from Brexit. For example, German exporters are seeing a large decline in trade with Great Britain. Merchandise exports to the United Kingdom fell 20.5 percent in the first two months of 2021, compared to EUR 9.7 billion in the same period last year. For comparison: Total German exports declined by 4.5 percent in January / February.

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About the Author: Forrest Morton

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