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Brexit Hits German Exports to the United Kingdom Hard

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Exports of German goods to the United Kingdom were hit hard by Brexit in January. According to the German Federal Statistics Office, exports fell by 30 percent that month compared to a year earlier.

 

Brexit has created all kinds of customs formalities at the border between the United Kingdom and the European Union, which hinder trade. On top of that are the corona crisis’s effects, such as the lockdowns against the virus outbreak that make trade more difficult.

In 2020, these factors already reduced German exports to the British by 15.5 percent to an amount of 67 billion euros, the largest annual decrease since the 2009 financial crisis. At the time, German exports went to the United Kingdom, got down by 17 percent.

In 2015, the year before the Brexit referendum in the United Kingdom, Germany exported 89 billion euros worth of goods “Made in Germany” to the country.

Imports from the United Kingdom to Germany were also under considerable pressure. Last year, it fell by almost 10 percent to 34.7 billion euros. According to the German statistics office, that is also the most substantial contraction since the financial crisis of 2009.

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