Brexit will cost German companies billions of euros

German companies will lose about nine billion euros (11.1 billion dollars) each year after Great Britain's departure from the European Union, if trade is conducted according to World Trade Organisation rules (OBT).

The WTO rules predetermine tariffs and regulatory barriers, including licensing procedures and potentially long-term expectations on the borders, which also result at cost for businesses”, according to a report by the management consulting company “Oliver Wymann” and the multinational legal company “Clifford Chance<5>.

Germany could be the biggest blow of EU member states, primarily its auto manufacturing industry, which would bear responsibility for a third of losses worth billions of euros.

The “Businesses across the union without Great Britain will face expenditures totalling 37 billion euros annually, while Great Britain is worth 32 billion euros”, according to the report.