2024-09-20 05:40:09
Economy
Business

Impact of Border Controls on Economic Stability

Border controls have significantly hampered economic performance by elevating transport costs by 1.7% and diminishing trade volume, leading to annual losses of up to 1.1 billion euros. Sectors such as food, trade, and transport are particularly vulnerable, experiencing import losses of 62 million euros, 55 million euros, and 51 million euros respectively.

The additional delay of approximately 20 minutes at border crossings disrupts Just-in-Time production systems, exacerbating recession risks. Overall, these constraints contribute to potential GDP losses of up to 11.5 billion euros, affecting a wide array of industries from manufacturing to leisure activities, and diminishing both day trips and weekend getaways across the Schengen area.

gmx
20. September 2024 um 03:32

Allianz Trade: Border controls weaken the economy

Economy
Allianz Trade: Border controls weaken the economy
Border controls increase imports by 1.7%, weaken trade and competition; recession risks and GDP losses up to 11.5 billion; affected are food, trade, transport, mechanical engineering, chemicals/pharmaceuticals, leisure, commuters; restrictions on just-in-time production; decline in day trips and weekend trips; border crossings in the Schengen area significantly extended.
tz
20. September 2024 um 03:31

Allianz Trade: Border Controls Weaken the Economy

Economy
Allianz Trade: Border Controls Weaken the Economy
Border controls increase transportation costs, reduce trade volumes, exacerbate recession risks, and lead to GDP losses of up to 11.5 billion euros. Border crossings are delayed by 20 minutes, which restricts just-in-time production.
CW

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