Business & FinanceDeals

Reuters reveals Britain no longer in Germany’s top 10 for trade as Brexit bites

Reuters revealed that Britain is on course to lose its status as one of Germany’s top ten trading partners this year for the first time since 1950, as Brexit-related trade barriers drive firms in Europe’s largest economy to look for business elsewhere. In the first six months of this year, German imports from Britain sank nearly 11% year-on-year to 16.1 billion euros ($19.0 billion), Federal Statistics Office data reviewed by Reuters showed. While German exports to Britain rose 2.6% to 32.1 billion euros, that could not prevent a decline in bilateral trade, by 2.3% to 48.2 billion euros – pushing Britain down to 11th spot from ninth, and from fifth before it voted to leave the EU in 2016.

Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceEconomy & PolicyEquities
Regions: Europe
Countries: EnglandGermany
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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