In the News
Pattern of Trade - China replaces Germany as UK’s biggest import market
Britain's pattern of trade has seen a massive change with China replacing Germany as the UK's largest import market.
In other words, we now import more from China than we do from Germany.
Since the start of 2018, Chinese imports have risen by 66% to £16.9bn and imports from Germany have fallen to £12.5bn. The EU remains the largest source of imports but total trade with EU countries has fallen by 23% since 2018.
This is a seismic shift.