UK on course to drop from Germany’s top 10 trading partners

The UK is expected to drop out of the list of Germany’s top 10 trading partners by the end of this year, official German statistics suggest.

Germans spent £13.8bn, or nearly 11%, less on British goods in the first six months of 2021, according to data from the Federal Statistics Office.

The UK has been in Germany’s top 10 trading partners since 1950.

But with Brexit-related hurdles taking a toll, it looks set to drop to the 11th spot by the end of 2021.

The UK left the European Union’s (EU’s) single market – which allows frictionless trade and the free movement of people between its members – at the end of 2020 after four years of wrangling. 

Since then, customs checks have been implemented, which have complicated trade. 

As a result, German companies have been looking to source goods from EU suppliers instead of UK ones – and this trend is increasing, an expert said. 

“More and more small and medium-sized companies are ceasing to trade [with the UK] because of these hurdles,” said Michael Schmidt, president of the British Chamber of Commerce in Germany. 

They “simply can’t afford the extra burden of keeping up to date and complying with all the kicked-in customs rules, such as health certificates for cheese and other fresh products”, he added.

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Thursday Blog
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Tommys Blog

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Tommys Blog

Both AUD and EUR are up a significant amount over the last couple weeks. However if we do not see a meaningful break above the previous highs of 1.1900 then I do see consolidation in EURUSD, and a possible downtrend beginning to form once again for the pair. We have the ECB this week but […]


Thursday Blog
August 19, 2021

Tommys Blog

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Monday Blog
August 16, 2021

Tommys Blog

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Thursday Blog
August 9, 2021

Tommys Blog

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Monday Blog
August 9, 2021

Tommys Blog

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Monday Blog
August 2, 2021

Tommys Blog

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Monday Blog
July 26, 2021

Tommys Blog

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Monday Blog
July 5, 2021

Tommys Blog

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Thursday Blog
July 1, 2021

Tommys Blog

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Monday Blog
June 28, 2021

Tommys Blog

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Thursday Blog
June 24, 2021

Tommys Blog

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