02.03.2021 – 08:00
Federal Office of Statistics
By January 2021, according to the first preliminary data on German exports to the United Kingdom, a strong decline is expected compared to the same month of the previous year. According to preliminary estimates, they are down about 30% from January 2020, according to the Federal Bureau of Statistics. According to an expansion, exports to the UK will continue to decline in January 2021 after 2020 marked by the corona epidemic.
By 2020, German exports to the United Kingdom are down 15.5% compared to 2019. This is the highest annual decline since the financial and economic crisis of 2009. At that time, German exports to the United Kingdom were down 17.0%. In 2020, German exports fell to 66 66.9 billion. Since 2016 – the year of the Brexit referendum – German exports to the United Kingdom have been steadily declining. In 2015, a year before the referendum, German exports were still worth .0 89.0 billion.
Imports from the United Kingdom to Germany in 2020 totaled .7 34.7 billion. Thus they were 9.6% lower than in 2019. On the import side, 2020 was also the year with the sharpest decline since the financial and economic crisis of 2009 (-22.1%). While imports from the UK fell by only 2.5% in the first half of 2020, German imports from there fell sharply in the second half of the year (-16.2%).
The UK’s exit from the European Union (EU) in 2020 also had an impact on German foreign trade by the economy. In 2019, goods worth 77 777.4 billion went from Germany to other EU member states (including the United Kingdom). The share of EU trade in German exports is 58.5%. 550.7 billion euros worth of goods were exported to countries outside the EU (41.5% share). By the end of 2020, the UK will no longer be a member of the European Union. This reduced the share of German exports to another EU member state to 52.7% (4 634.6 billion). 47.3% (570.4 billion euros) of German goods went to countries outside the EU.
In terms of imports, Brexit reduced the rate of imports from other EU member states from 57.2% (1 631.6 billion) in 2019 to 53.4% (7 547.8 billion) in 2020. 42.8% (2 472.5 billion euros) of goods were imported from outside the EU in 2019, while by 2020 the share of countries outside the EU had risen to 46.6% (7 477.8 billion).
The January results were calculated as a quick report from the first available export reports. There may be minor changes here before the actual release of the regular monthly news release of foreign trade figures. The press release of March 9, 2021 will then release the actual preliminary foreign trade results for trade with the United Kingdom.
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