Faculty of Economics, Administrative and Social Sciences - iisbf@gelisim.edu.tr
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 Faculty of Economics, Administrative and Social Sciences - iisbf@gelisim.edu.tr

International Trade And Finance








 China Passed Germany in the England Market




China became the UK's largest importer and thus replaced Germany. With the continuation of the decline in trade between the UK and the EU with the Brexit process, China became the UK's largest importer.

The Office for National Statistics (ONS) has announced that imports of goods from China to the UK have risen by 66% since the beginning of 2018 to £16.9 billion in the first quarter of 2021. Imports from Germany also fell to 12.5 billion pounds in the same period. With the exception of six months at the end of 2000 and the beginning of 2001, when the US took the lead in imports, Germany had been the UK's largest importer since 1997. ONS noted that UK imports from Germany have been on the decline since April 2019. However, a 23.1% decline was recorded in the first three months before the Brexit uncertainty became clear. This decline was 0.8% for trade with non-EU countries.





During the quarantine period, the UK's demand for China's electrical products increased. It was also observed that China strengthened itself in terms of demand for textile products. In addition, the decrease in automobile imports from Germany during the quarantine period was one of the factors that enabled China to achieve a first in the UK market.