The one-sided terms of trade with the EU27

No wonder the EU calls the UK ‘Treasure Island’

Since the Referendum, EU27 have made over ¼ TRILLION pounds from goods sales to UK – net

Average net earnings for EU27 from UK are now approximately £9 billion per month

Saturday, 18 May, 2019

by Brexit Facts4EU.Org

No wonder they want to stop us leaving. On Thursday the EU’s official statistics agency released its latest trade figures, for the period up to March 2019.

The figures show just how much the rest of the EU is making from the UK by selling us more than we sell them.

Brexit Facts4EU.Org looked at the trade balance, ie the value of exports minus the value of imports. This is what the Office for National Statistics refers to as how much the UK has ‘earnt’ or lost.

BREXIT FACTS4EU.ORG SUMMARY

What the EU27 make from the UK

EU27 have earnt €304 billion from UK in net goods trade since the Referendum

That’s over 1/4 TRILLION pounds – NET

In the last 12 months they have made £98 billion

In March 2019 (last month for which data is available) it was up to £10.7 billion for that month alone

In the last quarter the EU made more from the UK than from its other top 15 trading partners combined

The original Single Market Minister comments

Early this morning the Rt Hon Sir John Redwood, MP for Wokingham, commented on our research.

“The Common Market helped close down great chunks of UK industry by helping German and French exports. The Single Market keeps out non-EU goods and makes it dearer and more difficult to produce at home to bolster the huge surplus the continent still runs with us.

“They make us pay to stay so they can profit from our trade.”

Sir John Redwood MP

No wonder the EU call the UK ‘Treasure Island’

This article is about trade in goods. By the EU’s own admission there is no ‘Single Market’ in services yet – after 26 years – and in any case the EU does not report on services for a long time after a year has closed.

Trade in goods is also what Remain MPs are constantly talking about – even if very few of them have any experience in this field, or knowledge of it.

This is about the Customs Union and Single Market

In effect, we’re talking about the Customs Union and Single Market. It is the Customs Union – zero tariffs on goods sold within the EU – which has been the preoccupation of Jeremy Corbyn and his team in discussions with Theresa May and her team over the past three weeks.

The figures above show the reality of the trading relationship between the EU27 and the UK. To call it one-sided would be an understatement.

BREXIT FACTS4EU.ORG SUMMARY

Key trade fact:

Since the EU Referendum, the EU27 countries have sold over ¼ TRILLION pounds more goods to the UK
than we have sold to them

OBSERVATIONS

The irony of it all

Yesterday Mr Corbyn told Mrs May that talks between the Labour and Conservative parties were over. This hardly came as a surprise to anyone. Another few weeks had been wasted by Mrs May on a pointless delaying exercise.

The fact is that Theresa May’s surrender treaty delivers a de facto customs union with the EU anyway, so Jeremy Corbyn’s big play on this was all smoke and mirrors.

The balance of power

Putting aside the deliberate Remain tactics of Mrs May and her negotiators over the last three years, we believe that there is a permanent malaise in the political Establishment and Civil Service.

Much has been written of the ethos of a “management of decline” being prevalent. We genuinely believe that this is true. We just don’t see a confident, successful, and economically powerful United Kingdom being promoted from Government and bureaucratic circles.

We believe in the United Kingdom

We believe in the UK. We produce simple analyses of official figures from the EU to demonstrate why we should be full of optimism and confidence about the UK once again entering onto the world stage as a fully independent actor.

With some honourable and notable exceptions, it now seems that only a comprehensive clear-out of many politicians and Civil Service heads of department is required if we are to realize our true potential as a country.

And the one thing which could start to deliver this is new and real leadership.

[Source: EU official statistics agency – Eurostat]

Reader Comments

1. Sydney Ashurst , Saturday, May 18, 2019, 06:48:

We are ‘IN HOCK’ to the EU27, the EEA and Customs Union have not worked in our favour. So why does Corbyn want a Customs Union which is only obtainable by voting for the Withdrawal Agreement?

For years now lazy and incompetent Governments have been blind to the decline in our manufacturing base. Our balance of trade is regulated by EU membership.

We can’t even catch our fish in our own territorial waters anymore. Pot-hole Britain gives its money away to the EU and in Foreign Aid: political ‘correctness’ is more important.

https://facts4eu.org/news/2019_may_the_treasure_island_for_the_eu27

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