Goods valued at over £1.2 billion are stuck Northern Ireland warehouses awaiting delivery of parts due to a logjam in the supply chain.
That is according to a report from Barclays Corporate Banking which revealed that the manufacturing process in the province in many sectors are being held up as they await key parts, ingredients or other materials. One in 10 business surveyed by the bank said they are holding unfinished product, with those in the metal and steel sectors most badly hit.
Supply chain issues have been an ongoing theme for the last three years, initially caused by a sharp slowdown to global manufacturing and logistics as a result of the Covid-19 pandemic and furthered by the Russian war against Ukraine. That has resulted in delays to production of everything from cars to pharmaceuticals while at the same time pushing up prices.
