Britain’s exit from the European Union has hit Spanish imports from Britain in the first two months of the year as new EU trade rules disrupt trade flows across the Channel.
Spain’s imports from the UK decreased 49% in the first two months of the year compared with the same period a year ago. By contrast, intra-EU trade data showed Spanish imports fell only 7%, the Spanish industry ministry said on Thursday.
During the same period, Spanish exports to Britain decreased 15%, much more than the 5.1% drop of Spain’s sales to other EU partners. The ministry hasn’t provided trade balance data with individual countries.
Britain ended its transition out of the European Union on the Jan. 1 following a referendum in 2016, effectively erecting barriers to the trade of all sorts of goods and services.
Overall, data from the Spanish industry ministry showed the country’s trade deficit narrowed 49% in the first two months of the year compared with a year earlier to 2.85 billion euros ($3.41 billion). Total imports fell 11% to 46.89 billion euros, while exports decreased 6.6% to 44.04 billion euros as a result of coronavirus business restrictions.
The ministry did not provide a breakdown of the type of goods by country, but pointed that the sectors with the greatest weight in exports were capital goods and also food, beverages and tobacco each accounting for about 20% of the total.
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Not at all surprised to hear this - the red tape on both sides of the channel is quite unbelievable and the Transport companies are not helping. Dachser have introduced a new policy that they will only ship someone with a Credit Account with them - and if you try and obtain one - they will only deal with Limited Companies. Lots of small companies like us are either Partnerships or Sole Traders - so you are defeated before you even start. I even offered to put money on account to open the account - but no.. Thankfully our distributor had an account but surprise surprise - the rate for a pallet has increased to a staggering GBP380 UK-Majorca before you pay all the clearance fees and so on. And the pallet has sat there one week already waiting for 'permission' from Spain to send it through.. It is a complete scandal..
Prior to Brexit I was being criticised on here by UK citizens in Mallirca for saying it would be an unmitigated disaster. But no:- most readers told me I didn't know what I was talking about. It was plainly obvious that I, and a small majority of other readers, DID know what we were talking about. The Brexiteers have plunged us into an almighty mess. Social and financial suicide. I despair.
You can see this is true from the empty freezers in Nice Price. So miss salmon en croute!
No good moaning, they got what they voted for. It's the Spanish who we should feel sorry for as they had no control. Nothing to do with the E.U. It is all the U.K getting what they voted for.