German exports to UK slump after Brexit

The numbers are coming in on post-Brexit trade in Europe.

And they don't make pleasant reading for either side.

Germany said Tuesday (March 2) that its exports to the UK fell 30% on the year in January.

The country's statistics office blamed the fall on Brexit effects.

Though it said the global health crisis hadn't helped either.

The related economic slump means the UK economy is smaller than it was a year ago.

The International Monetary Fund says it and other European economies won't return to pre-crisis levels until next year.

Brexit raised barriers to trade, but the flow of goods was slowing even before Britain finally left the EU's orbit.

Over all of 2020, German exports to the UK fell 15.5%.

That was the biggest year-on-year drop since the global financial crisis over a decade ago.

Trade going the other way also took a hit.

UK exports to Germany fell almost 10%.