What's the german for "ouch"?
The latest figures from the German equivalent of the ONS make for stark reading in the FT this morning.
They show German goods exports to the UK have fallen by 27% compared with March 2019, even though Germany’s overall exports grew by 16%.
The UK is now not one of the top ten exporters to Germany and is apparently just to lose its position as the tenth most important German export market to the Czech Republic.
Not Czechoslovakia mind, just the Czech Republic.
The facts are simple to explain, since Brexit the UK is harder to import from and export to, full stop.
As Adam Posen says the UK is the first country in world history to declare a trade war on itself, and it shows.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.