Skip to content
Friday 28 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,817.21
+0.23%
DAX
26,528.15
+0.61%
CAC 40
8,406.34
+1.04%
STOXX 50
6,474.61
+0.78%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Tuesday 08 December 2020 12:11 pm  |  Updated:  Tuesday 08 December 2020 12:15 pm

47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study

By: Luke Harrison

Add as a preferred source on Google

Brexit will have a far greater impact on UK trade than it will on EU businesses, primarily because the UK relies more heavily on the EU for its imports and exports than vice versa.

According to a new study by the ifo Center for International Economics, the UK relied on the EU for 50 per cent of its imports last year, whereas the EU was the final destination for 47 per cent of all UK export, making it the UK’s single largest market.

Comparatively, only 4 per cent of all of the EU’s exported goods and services ended up in the UK last year, while a mere 6 per cent of its imports came from Britain, according to the ifo findings.

“Brexit means both sides lose, but the United Kingdom loses considerably more,” said Lisandra Flach, director of the ifo Centre for International Economics.

“In all European countries, only a few goods are highly dependent on imports from the United Kingdom.  This means the increase in trading costs due to Brexit will have a much smaller impact on companies in the EU27 than is expected for their UK counterparts,” Munich-based Flach added.

UK trade with Germany

The ifo research found that Germany sources only nine goods exclusively from the UK, which altogether accounted for less than 0.001 per cent of the value of the country’s total exports.

The nine goods that Germany is wholly dependent on the UK for are organic chemical products, animal and vegetable fats and oils, photographic or cinematographic equipment, nuclear reactors, boilers, machinery, apparatus, and mechanical appliances. 

Conversely, the UK imports 53 products exclusively from Germany. Having such dependence on a one country could signal more adverse shocks for the UK after Brexit, Flach warned.

However, there is still hope that a trade agreement between the UK and the EU will soon be reached, but the two-sides still differ on a number of critical issues.

Read more

The Danish retailer plotting to outsmart ‘unsentimental’ Modella Capital

Man in suit seated in a Sostrene Grene store, surrounded by homeware and gift items.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Transport & Infrastructure

Related Topics

  • Brexit
  • International

Trending Articles

  • Pensioners to hand over bank statements in government benefits crackdown

  • Jamie Carragher: HMRC petitions for Sky Sports star to be declared bankrupt

  • Brewdog founder James Watt hits out at ‘total silence’ over new venture

  • Lloyds Bank and Halifax users unable to use app in latest outage

  • Economists urge Bank of England to halt bond sales as borrowing costs climb

More from Morning Wire

  • The Danish retailer plotting to outsmart ‘unsentimental’ Modella Capital

    Retail
    Man in suit seated in a Sostrene Grene store, surrounded by homeware and gift items.
  • Business confidence climbs on consumer spending power

    Business
    Chancellor Healey speaking at a podium before a crowd, with the HM Treasury sign visible on the brick building.
  • As it happened: Intel, Arm shares slide; Oil climbs higher

    FTSE 100 Live
    Donald Trump smiling and holding a small golden ball, wearing a blue suit and red tie.
  • Peak chicken? Domino’s hatches plan to swoop into fried chicken market

    Retail
    Dominos Chick N Dip box with crispy chicken strips, red hot sauce, ranch dip, and a cheesy pizza.
  • Jobless Banquet: Youth unemployment surge ‘sends Neets to KFC’

    Retail
    Redhead woman excitedly biting into a piece of KFC fried chicken dipped in green sauce.
  • Citi chief’s cowed Trump comments reveal corporate America’s tightrope

    Banking
    Jane Fraser, Citi CEO, speaking at a podium with a microphone, wearing glasses and a purple top.
  • Ratcliffe’s Ineos saves Runcorn plant

    Industrials
    Manchester United minority owner Sir Jim Ratcliffe’s Ineos has announced a “significant strategic investment” into premium apparel brand Castore.
  • Britain needs to start designing for drought

    Opinion
    London cityscape from Primrose Hill showing dry, brown grass during drought with River Thames and skyscrapers
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook