LONDON: More than half of British exporters are suffering from disruption arising from attacks by Yemen’s Huthi rebels on shipping in the Red Sea, a survey showed Monday.
The British Chambers of Commerce (BCC) business group revealed the main finding in a survey of more than 1,000 companies.
The BCC said in a statement that more than 55 percent of exporters stated that they have been impacted by Red Sea disruption. Some 53 percent of manufacturers and business-to-consumer firms, like retailers, have also been affected.
“The main impacts cited by businesses are increased costs and delays,” the BCC said.
Some exporters revealed that costs had surged by 300 percent for container hire, while logistical delays have added up to four weeks to delivery times.
Other respondents also cited knock-on effects including cashflow difficulties and component shortages.
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