UK companies are shifting focus from EU exports to non-EU countries due to Brexit challenges

From Yahoo Finance: 2025-05-28 06:25:00

The number of UK businesses exporting solely to the EU decreased by 19% in 2024 to 14,300, while those importing and exporting exclusively to non-EU countries rose by 12% to 132,000. Post-Brexit regulatory changes and trade agreements have influenced this shift, reflecting fears of red tape and regulatory divergence.

The UK/EU trade agreement signed on May 19, 2025, aims to reduce veterinary checks on UK exports to the EU, potentially easing trade barriers. The introduction of the UKCA safety mark and increased customs inspections have added to the challenges faced by UK exporters, leading to fears of paperwork, delays, and damaged client relationships.

The recent UK-EU trade deal, while a positive step, primarily focuses on fishing and food exporters, leaving out key sectors like manufacturing and professional services. Alex Altmann, partner at Lubbock Fine, emphasizes the need for a long-term commitment to streamline regulation, reduce business uncertainty, and increase investor confidence for sustainable growth.



Read more at Yahoo Finance: UK companies shift focus from EU exports amid trade challenges