Brits are buying much less from the EU, says the EU

EU’s trade surplus with the UK plunges 25% - EU Commission trade report

© Brexit Facts4EU.Org

Despite the drop, the UK was still the EU’s second-largest market for goods

Yesterday, almost unnoticed by the mainstream media because of the Coronavirus, the EU Commission published its latest international trade report for January 2020.

Brexit Facts4EU.Org Summary

EU27 goods exports, Jan 2020 compared to Jan 2019

  • EU goods exports to the UK plunged by almost 10% year-on-year, to €25 billion
  • The EU’s trade surplus with the UK in January fell by 25% year-on-year, to €8.7 billion

© Brexit Facts4EU.Org - click to enlarge

The United Kingdom was the EU’s second-largest market in January

  • Despite the falls, the UK was still the EU’s second-largest market, after the USA
  • Sales to the UK were 67% higher than sales to the third place country, China
  • 30% of the EU’s global exports were to four countries: USA, UK, China, and Russia

© Brexit Facts4EU.Org - click to enlarge

And how did the EU do generally?

  • Intra-euro area trade fell to €164.2 bn in January 2020, down by 1.6% compared with January 2019
  • The EU27 recorded a -€2.6 bn deficit in trade in goods with the rest of the world in January 2020
  • Intra-EU27 trade fell to €255.3 bn in January 2020, down by -0.9% compared with January 2019

Please note: Despite the fact that the United Kingdom was still a full member of the European Union in January, the EU’s statistics agency has reported its international trade figures as if the UK had already left.

Observations

It is perhaps easy to forget that just two months ago the world was trading normally. In January 2020 the effects of the Coronavirus had not yet been felt.

It is therefore important to record that the EU was already struggling in many ways, before any effects of the Coronavirus. The charts above refer to the latest month about which the EU Commission was reporting: January 2020. The trends, however, had set in long before.

No excuses, no delay

Every day now we are reading more and more stories about a delay to Brexit being inevitable. We strongly believe that the sooner the UK extricates itself from the EU completely – including from the European Investment Bank – the better.

The Eurozone is heading for disaster. The last thing the UK needs is to have any association with it. The Prime Minister should immediately and categorically rule out any notion that Brexit will be delayed.

A message from Brexit-Puppy and his friends

    

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[ Sources: EU Commission - Eurostat report for Jan 2020 ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Thur 19 Mar 2020

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