Import market: China has become UK’s biggest import market.
China has overtaken Germany to become the UK’s biggest single import market for the first time since records began.
Goods imported from China rose 66% from the start of 2018 to £16.9bn ($24bn) in the first quarter of this year, the Office for National Statistics said.
READ ALSO: Amazing Car Paint Jobs We Seen So Far
Imports from Germany fell by a quarter to £12.5bn in the same period.
The change came as trade with the European Union was disrupted by Brexit and the pandemic boosted demand for Chinese goods.
Germany’s motor industry also felt the impact of the pandemic
The ONS said German imports to the UK had fallen since April 2019, amid uncertainty over the details of Britain’s exit from the EU.
Germany’s motor industry also felt the impact of the pandemic as both vehicle production and global exports were hit.
In the UK, demand for new vehicles slumped as car showrooms were shut due to lockdown measures.
Exports of goods to Ireland saw the greatest proportionate fall of the UK’s top five exporting partners after the EU transition period, the ONS said.
Since modern records began in 1997, Germany had been the UK’s biggest source of imports, except for a six month period at the end of 2000 and the start of the following year when the US briefly took the top spot.
Despite a 23.1% fall in total trade with European Union countries as a whole in the period, the EU remains the UK’s biggest trading partner, the report found.
The figures also showed there was a jump in imports from China of textiles used for face masks and other personal protective equipment, as well as stronger demand for electrical devices.
China was the first major economy to see its global trade grow last year as it became the first big country to emerge from the pandemic.
Follow Our Activities On Facebook
4 hours ago
5 hours ago
#BigBrotherNaija “Level Up” Week 6
Though last Sunday Sunday was meant to be a “no-eviction” day, it came as a shocker when fake housemate, Modella…
Dating in 2022; Situationships Are Not For The Fainthearted
Situationships are defined as that space between a defined relationship and something other than a friendship. It is a romantic…
20 Questions With Dinta Media’s Visual Storyteller, Chimeremogo Nwoke
Dinta Media is not really just a media production brand but we like to see ourselves as a hub for…
How Are Nigeria’s Small Businesses Coping?
The current rising rate of inflation and other burdens against the Nigerian economy speaks to the realities of the times.
Thrifting Is All The Rave Now, Here’s Why
By Amy Adindu The affordable clothing movement has gained global attention and acceptance as we’re all trying to look like…
#BigBrotherNaija “Level Up” Week 2
Week 2 of the highly watched Nigerian TV show kicked off with an early plot twist. On Sunday, Big Brother…
#BlueTunes: Burna Boy, Omah Lay Top Album Picks For July
July was a promising month for music lovers; from Lizzo’s album titled Special and Imagine Dragons’ Mercury, (Acts 1 &…
#BlueTunes Album Picks For June
Gbagada Express – Boj Bolaji Odojukan, popularly known as BOJ, was raised both in England and Nigeria. He shot to…
“A Creative’s Dream” with Jeff Chinonso
On the 26th of June 2022, Jeff Chinonso hosted his first solo art exhibition. The Augmented Reality exhibition themed “A…
Nigerian API-based company Thepeer raises $2.1 million
Tech infrastructure startup Thepeer has raised a $2.1 million seed round according to a report from TechCabal. Thepeer, a Nigerian…
Dika Ofoma, Ugochukwu Onuoha take on grief in Debut Film “The Way Things Happen”
The twenty-minute film focuses on the loss of a loved one, and how grief changes a person.
Nigerian Startups might just be Crippled by a Recently Leaked bill
Over the years there has been talks of amendment on the 2007 Act of the National Information & Technology Agency (NITDA).
Why We Love Kelechi Amadi Obi
The definition of talent is Kelechi Amadi’s iconic story. Imagine a person who studies law in school, gets called to Bar, and leaves it all for something different and unrelated…Painting!