Brexit Consulting

March 29, 2019 – A date to remember

By the end of this day for the first time ever in the history of the European Union (EU) a member will leave the community of states: Great Britain. This departure is called “Brexit”. An extension of time beyond March 29, 2019 may be doubted as this has to be decided unanimously. This means, the remaining 27 EU member states as well as Great Britain decide with one consent.

Great Britain – important business partner for the German economy

According to an analysis from German Federal Statistical Office in the year 2016, German enterprises made sales to business partners in UK in the amount of EUR 86.1 Billion. This equates to 12% out of the total EU intra-community sales in the amount of EUR 707.7 Billion. 

Thus, UK is the second most important business market for German companies. In principal, the following economic sectors are affected:

  • Automotive industry, EUR 30.1 Bn.,
  • IT equipment, electrical, electronical and optical devices, EUR 9.3 Bn.,
  • Manufacture of machinery and equipment, EUR 9 Bn.,
  • Steel and metal industry, EUR 6.3 Bn.,
  • Pharmaceutical industry, EUR 6.2 Bn.,
  • Chemical industry, EUR 5.6 Bn.

Further, forestry products, rubber and plastic products, furniture,

beverages, foodstuff, drinks and tobacco and mining products are sold to buyers in UK. In contrary, purchases from UK suppliers in Germany only amounts up to EUR 50.5 Bn., which is a far less volume. However, the mentioned industries take a leading role. Moreover, the supply of oil and gas has to be noted.