The United Kingdom’s economy is heavily dependent on imports from the European Union, and the steel sector is no exception. Germany, the Netherlands, and Belgium were the main exporters of iron and steel products to the UK. In light of the withdrawal of the United Kingdom from the European Union, these countries could see a significant decline in export volumes. According to 2019 forecasts, a no-deal Brexit would lead to job losses in the metals sector accounting for three percent of the sectoral employment in Belgium and the Netherlands.
Crude steel production in the UK has been in decline since 2014. At the end of 2019, Tata Steel shut down a plant in Wales, putting it up for sale. With over 8,000 employees in the UK, half of which based in Wales, the company has recently asked for financial help from the government to overcome the negative impact of the COVID-19 pandemic. As of February 2020, the trade impact of COVID-19 was estimated to be around 135 million U.S. dollars for the UK metal industry.
While being predominantly a service economy, the manufacturing sector accounted for 18 percent of the UK’s gross domestic products as of 2018. Aluminum is particularly important for the automotive industry, as manufacturers have started to prefer lightweight materials over heavier steel.
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In the following 4 chapters, you will quickly find the 32 most important statistics relating to "Steel and metal import trading in the UK".