Brexit red tape hurt Irish firms more than Covid supply snarls
by Bloomberg Aug 09, 2022
More than half of Irish businesses said they experienced increased regulatory burdens because of Brexit in 2020 -- exceeding the 40% that endured global supply disruptions due to Covid-19.
Despite the extra red tape, the UK remained the most-popular location for purchasing and supplying goods, followed by the European Union, according to the Central Statistics Office’s Global Value Chain survey of companies employing more than 50 people.
Almost half of firms said they bought from abroad, compared with about a quarter that supplied goods overseas. Raw materials, machinery and technical equipment were the most common purchases from outside of Ireland, while final goods designed by companies for resale were the most supplied.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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