BREXIT failed to lift textile trade: EU-UK trade report

BREXIT failed to lift textile trade: EU-UK trade report

Shares

Latest trade data (January-September 2021) show a dramatic drop of imports and exports of textile goods between the EU and UK, with significant losses for companies on both sides.

Brussels

Latest trade data (January-September 2021) show a dramatic drop of imports and exports of textile goods between the EU and UK, with significant losses for companies on both sides.

EURATEX calls on the European Union and the United Kingdom to effectively cooperate to remove the issues in the EU-UK Trade agreement that prevent smooth trade flows. All the sectors have been already suffering a significant loss in the past year and textiles has been no exception. Compared to the same period in 2020, between January and September the EU recorded a dramatic fall in imports (-44%) and in exports (-22%). The data show that the most impacted EU countries on the export side are Italy, Netherlands, Belgium and Germany while on the import side the most impacted countries are Germany, Ireland and France. Among the T&C sectors, clothing articles are facing the most severe drop in both imports and exports over the 9 months period. Despite these alarming figures, the UK continues to be the most important export market for EU textiles and clothing. 

Concerning the impact on the UK textiles sector, in May 2021 the UK Fashion and Textile Association’s (UKFT) surveyed 138 businesses, including leading UK fashion brands, UK textile manufacturers, wholesalers, fashion agencies, garment manufacturers and retailers. 

The results of the survey showed that: 

  • 71% currently rely on imports from the EU 
  • 92% are experiencing increased freight costs  
  • 83% are experiencing increased costs and bureaucracy for customs clearance 
  • 53% are experiencing cancelled orders as a result of how the EU-UK agreement is being implemented 
  • 41% had been hit by double duties  
  • The vast majority of the surveyed companies declared they are looking to pass the increased costs on to consumer in the next 6-12 months 

The above situation is expected to get worse. Since January 01, 2022, full customs controls are being implemented. It means that export and import rules have become stricter: products should already have a valid declaration in place and have received customs clearance. Export from Britain to the EU must now have supplier declarations and the commodities codes changed.  

Source: Euratex

Image Source: Google Images

Also Read:

CATEGORIES
TAGS

COMMENTS

Wordpress (9)
  • comment-avatar

    I enjoy this website – its so usefull and helpfull. [url=http://easytrans.co.kr/bbs/board.php?bo_table=free&wr_id=612291]ventipulmin en venta libre en Portugal[/url]

  • comment-avatar

    … [Trackback]

    […] Find More Information here on that Topic: indiantextilejournal.com/brexit-failed-to-lift-textile-trade-eu-uk-trade-report/ […]

  • comment-avatar

    Hi it’s me, I am also visiting this site on a regular basis, this web page is really
    fastidious and the visitors are truly sharing fastidious thoughts.

  • comment-avatar

    … [Trackback]

    […] There you will find 12069 more Info to that Topic: indiantextilejournal.com/brexit-failed-to-lift-textile-trade-eu-uk-trade-report/ […]

  • comment-avatar

    Why people still make use of to read news papers when in this technological world all is existing
    on net?

  • comment-avatar

    Its like you read my mind! You seem to grasp so much
    about this, such as you wrote the e book in it or something.
    I believe that you just could do with a few % to pressure the message house a little bit,
    however other than that, that is wonderful blog.
    A great read. I will definitely be back.

  • comment-avatar

    Hello there I am so thrilled I found your webpage, I really found you by mistake, while I was browsing on Bing for something else,
    Nonetheless I am here now and would just like to say thanks for a
    incredible post and a all round entertaining blog (I also love
    the theme/design), I don’t have time to
    go through it all at the minute but I have bookmarked it and also added
    in your RSS feeds, so when I have time I will be back to
    read much more, Please do keep up the excellent jo.

  • comment-avatar

    … [Trackback]

    […] There you will find 69826 additional Info on that Topic: indiantextilejournal.com/brexit-failed-to-lift-textile-trade-eu-uk-trade-report/ […]

  • comment-avatar

    Hey there! I know this is somewhat off topic but I was wondering which blog platform are you using for this site?
    I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m
    looking at options for another platform. I would
    be awesome if you could point me in the direction of a good platform.

  • Disqus (0 )