No-deal Brexit could cost 100,000 German jobs: Study

In Germany, the car industry is the most likely to be affected by a 'no-deal' Brexit, due to a decline in exports.
In Germany, the car industry is the most likely to be affected by a 'no-deal' Brexit, due to a decline in exports.PHOTO: REUTERS

BERLIN (DPA) - Some 100,000 jobs could be at risk in Germany if Britain leaves the European Union without a negotiated deal, according to a survey published on Sunday (Feb 10) in the Welt am Sonntag newspaper.

"In no other country is the effect on total employment as great as in Germany," Oliver Holtemoeller, one of the study's authors, told the newspaper.

The study only takes into account job losses that would be caused by a slump in exports as a result of new customs duties on imports to Britain in the event of an unregulated Brexit, and not further risks to the labour market such a decline in willingness to invest.

In Germany, the car industry is the most likely to be affected by a decline in exports. In terms of the number of employees, the greatest effects would be felt at Volkswagen's Wolfsburg factory and BMW's Dingolfing-Landau plant in Bavaria.

According to the study, 500 employees could be affected in Wolfsburg and 265 in Dingolfing-Landau.

Overall, the researchers from the Halle Institute for Economic Research (IWH) and the Martin Luther University of Halle-Wittenberg saw the biggest risks for the states of Baden-Wuerttemberg, Bavaria and North Rhine-Westphalia, with hardly any jobs at risk in eastern Germany.

After Germany, the study found that France is the EU country most likely to be affected by a no-deal Brexit, with almost 50,000 jobs at risk. In China, it was almost 59,000. Measured against the total population, the effects would be greatest in Malta and Ireland.

According to the study, 612,000 people worldwide could lose their jobs in the event of an unregulated Brexit.