Facts4EU.Org presents the last 10 years of the UK’s global success, and the EU’s failures
UK's exports to the Rest of the World are far outpacing those to the EU
In 2019 the UK’s goods exports to the non-EU world soared by 14.1%
By sad contrast the UK’s goods exports to the EU27 fell by 1.2%
In the last 10 years, the EU has profited more and more from its "Treasure Island"
10 years of a success story for the UK, with the non-EU trade balance improving by 33%
10 years of a sad story for our EU membership, with the UK’s trade defIcit with the EU more than doubling
Last year the EU27 ‘made a profit’ of over £95bn on its goods trade with the UK (exports minus imports)
How do goods exports affect our economy?
Brexit Facts4EU.Org recently published the data on how our goods exports affect the UK’s economy. The facts are that goods exports are a small part, because of the UK’s strong services sector which dominates by a factor of almost 4:1.
Nevertheless our goods exports to the rest of the world are becoming increasingly significant. Below we show just one part of our research, which demonstrates clearly how the rest of the (non-EU) world is of far more importance to the UK’s GDP, and how its influence is growing.
Trade deals
In 60 years the EU has never managed to negotiate a trade deal with the largest economy on the planet : the United States. It has no trade deal with the second-largest economy: China.
In that same 60 years the EU has only just managed to do a deal (still not ratified) with the world’s third-largest economy: Japan. The United Kingdom Government managed this is in just eight months since leaving the EU (in name only) on 01 February 2020.
Trade deals are not required to do trade, but they can help. The vast majority of the world’s economies and businesses trade with the EU without a trade deal. No Single Market, no Freedom of Movement, no massive annual payments, no Level Playing Field, no Northern Ireland Protocol, nothing. Just normal WTO rules.
The myth of the EU's Single Market and Customs Union
At present, UK companies can sell their goods to EU27 countries with no tariffs. The EU's Customs Union is supposedly a tariff-free zone for EU members. The Single Market supposedly imposes common standards. These are facts which were lauded by all those who campaigned for Remain in the EU Referendum of 2016 and ever since.
A simple question must therefore be asked. If the EU's Single Market and Customs Union are so essential to be a part of, why have the UK's sales outside the EU increased by 14.1%, when the UK's sales to the EU have fallen by 1.2%?