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MNI (London)
German exports to the UK have declined steadily since the Brexit referendum in 2016 and dropped by 30% in January 2021 compared to January 2020, data published Tuesday by Destatis showed. German exports fell to EUR 66.9bn in 2020, down from EUR 89.0bn in 2015 before the Brexit vote.
Over 2020, exports decreased 15.5% compared to 2019 -- the biggest drop since the global financial crisis in 2009. Imports from the UK to Germany fell by 9.6% in 2020 compared to 2019, also the largest decline since the crisis in 2009 where imports dropped 22.1%. Nevertheless, the UK remains the fifth most important export location for German firms.
Source: Destatis
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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