'Exports have steadily sunk': Brexit sends Britain sliding down German trade rankings
Britain is slipping down the list of Germany's most important trade partners, official data showed Monday, after its 2016 vote to quit the EU marked an end to growth in exchanges.
Between January and July, Britain was only Germany's seventh-most important partner with combined imports and exports of almost €68.5 billion, federal statistics authority Destatis said.
Exports to Britain fell back 4.6 percent compared with a year earlier, to 47.1 billion, while imports shed 3.7 percent, to 21.3 billion. In 2015, Britain was fifth in the ranking.
Ahead of the island nation were China, the Netherlands, the US, France Italy and Poland, while Britain outstripped Austria, Switzerland and the Czech Republic among the top 10.
"Before the referendum, German exports to Britain rose continually from 2010 to 2015," the statisticians noted.
"Since the referendum in 2016, exports have steadily sunk."
For all The Local Germany's Brexit coverage CLICK HERE
The picture is different in imports, with Germany buying slightly more from Britain since the Brexit referendum.
But the gap between the two figures remains wide.
In the year to July, Britain bought €25.8 billion more of German goods than it sold in the opposite direction.
Auto industry woes made a strong contribution to weaker business between Germany and Britain, with cars and parts accounting for just below 25 percent of trade volume.
German auto exports to Britain fell 9.7 percent in January to July, while imports fell 9.1 percent.
READ ALSO: Brits face residence permit costs of up to €150 in no-deal Brexit
'Massive tariffs overnight'
As The Local reported in July, European trade association Business Europe warned against a no-deal Brexit. The consequence of a no-deal would be "massive tariffs overnight", said the General Director of Business Europe, Markus Beyrer, to Funke Media Group newspapers.
Even if Boris Johnson claims the opposite, he is mistaken, Beyrer said, adding: "Yes, there will be customs duties."
Beyrer said without a withdrawal agreement, the UK would move from fully integrated EU country status to absolute non-status. "There is hardly a country in the world, perhaps apart from North Korea, that would have an even worse level of agreements with the EU,” he said at the time.
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Between January and July, Britain was only Germany's seventh-most important partner with combined imports and exports of almost €68.5 billion, federal statistics authority Destatis said.
Exports to Britain fell back 4.6 percent compared with a year earlier, to 47.1 billion, while imports shed 3.7 percent, to 21.3 billion. In 2015, Britain was fifth in the ranking.
Ahead of the island nation were China, the Netherlands, the US, France Italy and Poland, while Britain outstripped Austria, Switzerland and the Czech Republic among the top 10.
"Before the referendum, German exports to Britain rose continually from 2010 to 2015," the statisticians noted.
"Since the referendum in 2016, exports have steadily sunk."
For all The Local Germany's Brexit coverage CLICK HERE
The picture is different in imports, with Germany buying slightly more from Britain since the Brexit referendum.
But the gap between the two figures remains wide.
In the year to July, Britain bought €25.8 billion more of German goods than it sold in the opposite direction.
Auto industry woes made a strong contribution to weaker business between Germany and Britain, with cars and parts accounting for just below 25 percent of trade volume.
German auto exports to Britain fell 9.7 percent in January to July, while imports fell 9.1 percent.
READ ALSO: Brits face residence permit costs of up to €150 in no-deal Brexit
'Massive tariffs overnight'
As The Local reported in July, European trade association Business Europe warned against a no-deal Brexit. The consequence of a no-deal would be "massive tariffs overnight", said the General Director of Business Europe, Markus Beyrer, to Funke Media Group newspapers.
Even if Boris Johnson claims the opposite, he is mistaken, Beyrer said, adding: "Yes, there will be customs duties."
Beyrer said without a withdrawal agreement, the UK would move from fully integrated EU country status to absolute non-status. "There is hardly a country in the world, perhaps apart from North Korea, that would have an even worse level of agreements with the EU,” he said at the time.
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