This year Germany has earned £100 billion more from the EU than the UK

Latest trade figures show the UK benefits least from the Single Market

    

Chart © Brexit Facts4EU.Org / Pic credit: EU Commission

The UK is 28th out of 28 when it comes to selling goods within the EU’s Single Market

On Friday the EU’s official statistics agency released its figures for international trade covering the first nine months of this year, 2019. As these went unreported by the BBC, we have analysed the information and summarised it for readers.

Brexit Facts4EU.Org Summary

  • The UK is 28th out of 28 when it comes to benefiting from trading goods within the EU
  • So far this year the UK has lost £70 BILLION from trading with the EU27
  • Germany has made £30 BILLION - a net gain over the UK of £100 BILLION
  • In the 9 months to Sep 2019, Germany is £100 BILLION better off than the UK
  • The UK had the worst DEFICIT in goods trade with the EU out of all EU28 countries

© Brexit Facts4EU 2019 - Click chart to enlarge

The above chart uses the latest official data from the EU, and as such is incontrovertible.
For simplicity we have used an average exchange rate of €1 = £1.15. In Euros the UK’s trade imbalance was MINUS €81.5bn.

Observations

Seriously, where is the economic benefit of the EU’s Single Market?

For years Brexit Facts4EU.Org has been publishing the truth about the UK’s trade with the EU27, based on official EU figures. In report after report we have shown why the EU27 refer to the United Kingdom as “Treasure Island”.

Despite this, time and again Remainer politicians have stood up in the House of Commons and talked of all the benefits of Single Market membership. Not once have they quoted any actual facts.

Sadly, we never hear pro-Brexit MPs rebutting the nonsense with the real figures. The Office of National Statistics talks of the difference between imports and exports as being what the country “earns”. When it comes to the goods trade with the EU27 the UK doesn’t earn, it loses. In the first nine months of this year the UK lost £70 billion.

Pro-Brexit politicians could also mention that since the EU Referendum, the EU27 have sold over £¼ TRILLION more goods to the UK than we have sold to them. Over 160 countries trade with the EU - and so can the UK - without membership of the Single Market.

What about services?

It is well-known that the UK is a services-based economy, with only around 20% attributable to the trade in goods.

Once again we must remind Remainer politicians that the Single Market doesn’t work for services – by the admission of the EU Commission itself.

“The Single Market – this jewel that is all too often taken for granted – does not function properly for services”

- Elżbieta Bieńkowska, EU Commissioner for the Single Market, 2017

The general election and the Single Market

In this election campaign when Remainer politicians talk of “protecting jobs” by remaining in the Single Market, we hope that journalists and pro-Brexit politicians will ask them to justify their claims with actual facts.

Now THAT should be interesting

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[ Sources: Official EU statistics from the EU Commission ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, 17 Nov 2019

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