Money
RECORD BREAKER: UK’s newest biggest single import market
China has officially overtaken Germany to become the UK’s biggest single import market, for the first time since records began.
Goods imported from China rose 66 per cent from the start of 2018, to this quarter at $24billion dollars.
Imports from Germany fell by a quarter to in the same period.
This comes as trade with the EU was affected by Brexit and the pandemic saw demand for Chinese goods boosted.
Germany’s motor industry also felt the impact of the pandemic as both vehicle production and global exports were hit.
Imports from china that showed a jump were textiles for face masks and other protective equipment and a strong demand for electrical devices.
Taylor
May 27, 2021 at 7:34 am
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