Brexit Customs System Rollout:
Potential Delays and Impacts on Trade
Rollout of New Supply Chain Customs and Immigration Software May Impede Trade in the New Year
Three pieces of software are under development for Great Britain-Northern Ireland and the UK-EU trade corridors for January 1, 2021, when Brexit goes into effect. These include: the Goods Vehicle Movement Service (GVMS), Smart Freight Solutions, and the Trader Support Service. They are in various stages of research, development, and beta testing.
The limited time until their rollout leaves an increased risk of bugs being present when it is fully implemented. Given the 260 million customs form submissions per year with the anticipated 30-60 percent of truckers lacking the necessary documentation when crossing the border, such a scenario creates an elevated possibility of noticeable trade disruption due to technical reasons.
This Everstream Analytics Special Report takes a closer look at the implementation timeline of the three software, analyzes the impact that a delay in rollout may have on different goods being traded within the UK and between the UK and the EU, and explores avenues that exist to mitigate trade disruption.