The GFSB has conducted a flash survey of its members concerning their experiences during the first two weeks of the new Treaty arrangements.

The response has been fantastic, with more than 114 members participating at the time this email was sent. We have collated the findings into an easy-to-understand report which can be viewed here.

The headline findings are as follows:

• Retail businesses represented 76.3% of respondents. The findings should therefore be considered principally reflective of the retail sector.
• Trading indicators were more mixed than overall sentiment – around half of respondents reported no noticeable change in sales, business activity or Euro-denominated trade.
• Reported visitor numbers from outside Gibraltar showed a slightly positive trend.
• Overall sentiment concerning the first two weeks of the Treaty arrangements was predominantly negative. Some 66.7% of respondents described their experience as either “somewhat negative” or “very negative”, compared with 7.0% who reported a positive experience. Retail respondents were more negative overall (70.1%) than non-retail respondents (55.6%).
• Supply chain and customs issues emerged as the most significant areas of concern. A total of 81.5% of respondents reported that receiving stock had become more difficult, while 76.3% had encountered customs or border-related issues either frequently or occasionally. It should be noted, however, that no businesses operating in logistics, freight or customs clearance responded to the survey.
• Looking ahead, 48.2% of respondents said they were less optimistic about the next three months, compared with 12.2% who were more optimistic.

As always, the GFSB stands ready to assist members with any specific Treaty-related or other business matters they may encounter.