Sales to the EU have dropped dramatically for British merchants and brands since Brexit, totaling £5.9 billion. Brexit-related trade frictions are preventing UK-based businesses from realising the full potential of their foreign sales, which could have boosted EU economies by £323 billion annually.
Tradebyte is a German-based company that helps brands and retailers communicate easily. The value of non-food retail exports has decreased by over 18% since 2019, according to a study by London-based Retail Economics using Q1 UK trade statistics. After Brexit, the apparel and footwear industry has been especially badly hit, with exports falling from £7.4 billion in 2019.
The regulatory environment that emerged after Brexit has presented difficulties for merchants and businesses that have little capital, experience, or resources. As a result, there is now more pressure, logistical costs are going up, it’s getting harder to register for EU trade
