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China become the largest importer of goods to Britain

China become the largest importer of goods to Great Britain. This was the first time since records began in 1997.

China become the largest importer of goods to Britain
Yazar: Tom Roberts

Yayınlanma: 30 Mayıs 2021 14:54

Güncellenme: 17 Kasım 2024 11:46

China become the largest importer of goods to Britain

China has overtaken Germany and become the largest importer of goods to Britain. This was the first time since records began in 1997, the British statistical office said on Wednesday. The volume of goods imported from China in the first quarter of this year increased by 66 percent compared to the same period in 2018 and reached 16.9 billion pounds. In contrast, imports from Germany fell by a quarter over the same period to £ 12.5 billion. Trade between Britain and the European Union was disrupted by Brexit, while a pandemic increased demand for Chinese goods. The Bureau's report monitored the effects of Britain's exit from the EU and the pandemic on trade. The office also said that imports from Germany had been declining since April 2019 due to uncertainty about the new relationship between Britain and the EU after Brexit. The effects of the pandemic were also felt by the German car industry. Both vehicle production and global exports declined. In Britain, demand for new cars has fallen as their stores have closed. Since the beginning of modern statistics in 1997, Germany has been the main importer to Britain. The exception was the six-month period at the end of 2000 and the beginning of the following year, when it was briefly overtaken by the United States. Despite total trade with the European Union falling by 23.1 percent since the beginning of 2018, the EU as a whole remains Britain's main trading partner. A report from the British Statistical Office also showed that imports from China increased due to textiles used in the manufacture of drapes, respirators and other protective equipment. There was also a greater demand for electrical equipment. According to analysts, however, Germany can return to the championship. "The order of China and Germany will probably change again if the pandemic eases and the stabilization of post-chronic trade between the EU and Britain continues. Nevertheless, this change is another manifestation of the long-term strengthening of China's weight, which became Germany's largest trading partner in 2016 and the entire EU in 2020, "said Ludlach Procházka, an expert on international trade from the Gerlach customs company.
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