IfW in the News

UK-EU trade falls sharply as Brexit disruption starts to bite

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... Gabriel Felbermayr, president of the Kiel Institute for the World Economy, said research it did for the German government found the country’s exports to the UK were likely to remain 12-15 per cent below pre-Brexit levels. “Some of the recent collapse is due to teething problems,” said Felbermayr. “The major new trade barrier in goods trade are rules of origin that are costly to document and to abide by; however, traders will learn how to deal with them.” He said there was evidence that “many of the bigger [German] firms have planned for Brexit and have reorganised their operations” to adapt to the likely disruption, while smaller companies have done less. ...

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