UK exports of clothing and footwear to the EU have dived since Brexit, according to a new study that shows the extent to which complex regulations and red tape at the border have deterred firms from sending goods across the Channel.
The report said the decline meant British brands and retailers have seen sales to the EU plummet since Brexit, despite a flourishing European e-commerce market.
UK firms that previously repackaged imports of goods made in Asia for sale in the EU have now reorganised their supply chains, by setting up offices inside the single market to bypass border regulations.
In one instance a sock-maker based in Leicester, which declined to be named, has shifted production to Italy, ending more than 100 years of manufacturing in the east Midlands, Lim said.
It said analysis of recent official figures showed that the UK’s services trade “has not only bounced back swiftly after the pandemic, but also exceeded pre-pandemic levels by the latter half of 2022”.
Rain Newton-Smith, head of the CBI, said there was a case to review the UK’s trading relationship as she set out the business lobby group’s wishlist ahead of the 4 July general election.
The original article contains 664 words, the summary contains 197 words. Saved 70%. I’m a bot and I’m open source!
This is the best summary I could come up with:
UK exports of clothing and footwear to the EU have dived since Brexit, according to a new study that shows the extent to which complex regulations and red tape at the border have deterred firms from sending goods across the Channel.
The report said the decline meant British brands and retailers have seen sales to the EU plummet since Brexit, despite a flourishing European e-commerce market.
UK firms that previously repackaged imports of goods made in Asia for sale in the EU have now reorganised their supply chains, by setting up offices inside the single market to bypass border regulations.
In one instance a sock-maker based in Leicester, which declined to be named, has shifted production to Italy, ending more than 100 years of manufacturing in the east Midlands, Lim said.
It said analysis of recent official figures showed that the UK’s services trade “has not only bounced back swiftly after the pandemic, but also exceeded pre-pandemic levels by the latter half of 2022”.
Rain Newton-Smith, head of the CBI, said there was a case to review the UK’s trading relationship as she set out the business lobby group’s wishlist ahead of the 4 July general election.
The original article contains 664 words, the summary contains 197 words. Saved 70%. I’m a bot and I’m open source!