GZS worried about impact of no-deal Brexit on exports
The GZS's analytics department estimates that Slovenian exports of goods to the UK rose by 11% to EUR 615m in 2018, while exported services were up 9% to EUR 210m. In case of a no-deal Brexit, goods exports could fall by up to 20% in a year, although they would later probably rise again.
A similar reduction would also be experienced by Slovenian exports to other EU member states with close trade ties to the UK, the chamber wrote in a press release.
A no-deal Brexit would present a strong blow in particular to the movement of people, goods, services and capital, with cooperation already being affected by the current uncertainty.
A direct impact has been felt above all by multinationals and regional companies with a two-way value chain and in particular involving Germany, France, the Netherlands and Belgium. Indirectly affected are the supplier companies, meaning also a number of Slovenian companies.
A no-deal Brexit would also mean the reintroduction of border checks and thereby a fourfold increase in the time needed to cross the border. Slovenian hauliers conduct EUR 40m worth of transport for British clients a year, the GZS said, while also highlighting additional costs related to the diverging of standards for products and services.