The worldwide impact of the corona virus on international trade
NLinBusiness conducted a second survey to measure the worldwide impact of the corona virus on international trade. Below you can find some main findings of the survey. You can download the full report below.
Research among 754 Dutch business in major countries around the world show that the impact of the Covid 19 crisis has been severe. 90% of Dutch business abroad expect negative impact on turnover. An average decrease of 46% of 2020 turnover is expected. Smaller companies (<10 employees) fear to lose an average 60% while companies with 250+ employees expect a decrease of 26%.
The main findings
- Business based in the Netherlands expect a decrease of 40% of turnover in 2020. Dutch business France and Southern Europe expect to lose 50 to 75% of their 2020 turnover. Dutch business Belgium, Germany, and South-East Asian countries expect to lose up a third or a quarter of 2020 turnover.
- 73% of Dutch business has already lost clients and 43% experience cash flow problems. 60% of importing and exporting companies face (heavily) increased trade barriers. Nearly one of three Dutch business within the EU are confronted with supply chain disruptions.
- 35% of importing and exporting dutch business abroad feel that they face higher trade barriers than local companies. This goes for both inside and outside the EU. Call to action: restore the world based trade and the EU Internal market
- Only 18% of Dutch business abroad feels supported by the economic policies of the local authorities. Dutch business in Germany, Belgium, the Netherlands, and France are rather positive, while Dutch business in Portugal, Spain, Russia, and Malaysia receive little support from local or national authorities. 40% feels that these policies are less accessible to them than to local business.
- 51% of Dutch business abroad want to hear success stories on how other entrepreneurs cope with the Corona Crisis. 45% of the respondents feel supported by their local NL Business Hubs or Bilateral Chambers of Commerce. 195 entrepreneurs (26%) have offered to share their story through NLinBusiness and its NL Business Hub network.
- 26% of Dutch business abroad feel (very) much supported by the Dutch Government,while 74% does not feel supported (at all) or is not aware of any support the Dutch government can offer. Call to action: It is crucial that the Dutch embassy network actively adress issues faced by Dutch business abroad and lobby’s with the local authorities to support hem.
Read more and download the full report at NLinBusiness