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Covid/Brexit cocktail: UK lost market share in US, Germany and China

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Britain seems to have suffered a sharper decline and seen its global competitiveness dwindle, says report. FMTNews Brexit

LONDON: The UK lost market share in the US, Germany and China during the Covid-19 pandemic due to global trade chaos, Brexit and poor productivity, according to new research published on Monday.

While all countries grappled with the tumult of Covid-19, the UK lost market share in its biggest export markets — the US and Germany, the research showed. “The UK’s decline in exports to the US appeared the sharpest in both absolute and relative terms and the most prolonged among the major European countries .”

 

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