UK trade with Germany tumbled in January – business live

UK trade with Germany tumbled in January – business live

Rolling coverage of the latest economic and financial newsGerman exports to UK down 29% year-on-year in JanuaryImports from UK to Germany fell 56.2%Fears for 5,000 UK jobs as steel group's backer enters administration 8.35am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.Trade between the UK and Germany slumped in January, new figures from Germany show, as the two countries adjusted to life after Brexit amid the Covid-19 pandemic. Related: Ports gridlocked and retailers struggling as Brexit deadline looms Related: Fury at Gove as exports to EU slashed by 68% since Brexit On 1 January 2021 the partnership agreement negotiated between the EU and the United Kingdom took provisional effect. As the United Kingdom has left the EU single market and the customs union, its withdrawal from the EU has now been completed. In January 2021, exports to the People's Republic of China rose by 3.1% to 7.5 billion euros compared with January 2020. Exports to the United States fell by 6.2% to 8.5 billion euros.In January 2021, most imports to Germany came from the People's Republic of China. Goods to the value of 10.5 billion euros