New UK Government data has revealed that trade in Goods and Services between the UK and Falkland Islands decreased by 9.7% from 2020 to 2021.
Figures from the UK’s Office of National Statistics show that trade between the two economies was down by £12 million from mid-2020 to 2021, compared with the same period the year before.
The Falkland Islands also ranked as the UK’s 139th largest trading partner.
The same set of data showed that UK exports of goods to the Falklands decreased by 16.9%, but interestingly, UK imports of goods from the Islands increased by 25%.
Chair of the Falkland Islands Chamber of Commerce, Mike Summers, gave FITV his analysis of the data and reasons for the overall decrease in trade.
“My take would be that it’s more to do with coronavirus and the issues in world shipping. The supply chains have been blocked and severely hampered for several months now.
All that just feeds through to people here (Falkland Islands) trying to buy stuff and it’s simply not available when they want it.
This is a world problem, it’s not specifically a UK problem or Falklands problem.”Mike Summers, Chamber of Commerce Chair (Falkland Islands)