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Challenges mount for British traders, says ParcelHero

[ February 10, 2023   //   ]

Britain’s beleaguered importers and exporters are facing some of the most significant challenges of all businesses, says broker ParcelHero. The Government’s Office for National Statistics (ONS) Business Insights survey revealed that 41% of companies trading overseas reported significant challenges, particularly rising transport costs with 29.6% of importers and 25.4% of exporters citing them as their main concern for December compared to the previous month.

Importers have also told ParcelHero that proof of origin, determining whether a product was manufactured solely in the EU or not, remains a major headache.

By December, exchange rates had settled somewhat from their scary Liz Truss-era ride, but they too remained a concern: 25.1% of importers and 24.3% of exporters said they were an ongoing challenge.

‘Other post-Brexit difficulties continue to play a part. Customs duties and UK border disruption were named as ongoing issues. 19.8% of Britain’s importers found Customs duties challenging, as did 15.8% of exporters, as UK border control officials went on strike at the end of December.

However, says ParcelHero, the UK’s overall international trade situation continues to improve, and many companies are now preparing to enter this lucrative market.

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