London imports more from China than from Germany. The latest findings from China’s National Statistical Institute say that, for the first time since 1997, since Beijing began recording trade flows, London imported 16.9 billion pounds ($ 24 billion) of goods from China. in the first quarter against 12.5 billion pounds from Germany. China thus takes the place of Germany as Britain’s top importer.
The Chinese boom in the UK
Tense diplomatic relations between London and Beijing, as is well known, however, the continuing disputes over 5G, human rights, and the situation in Hong Kong have not stopped the traffic of goods between the two countries.
On the contrary, the business has gone great, as confirmed by Her Majesty’s Customs. China recorded the second-largest growth in March compared to the same month a year earlier, with over 455 million pounds (646 million dollars).
China accounted for 13% of total British imported goods, up 5.5 from March 2020.
The possibilities around the corner
Due to Brexit, but also to the pandemic, European goods have lost appeal, to the detriment of Chinese ones. It is not certain that the trend will stabilize in the future between the UK and China. But there are still opportunities in the food & drinks, pharmaceuticals, green energy sectors.