EU’s ‘UK Treasure Island’ delivers staggering 69% of EU's entire world trade surplus
EU-UK trade war – can EU risk its annual £¼ TRILLION sales to UK?
Montage © Facts4EU.Org 2021
Latest EU figures show the EU’s massive dependency on the UK market
EXCLUSIVE: A major report from Facts4EU.Org reveals the colossal size of the EU’s exports
to its ‘Treasure Island’
Two prominent former ministers comment for Facts4EU.Org on our report below.
“This excellent piece of analysis by Facts4EU starkly highlights the extent to which EU businesses are dependent on the continuation of trade with the UK.”
“If the Commission truly care about the interests of the EU businesses that ultimately pay their handsome wages, they will swiftly agree to sensible terms with the UK. Otherwise, they will be the losers.”
The Rt Hon David Jones MP, Vice Chairman, European Research Group, MP for Clwyd West, former Minister of State at the Department for Exiting the European Union
“UK consumers will buy more local items, the more the EU threatens us.”
“The EU developed its single market laws and policies to give it privileged access to the UK market and to make it more difficult for UK producers.”
The Rt Hon Sir John Redwood, MP for Wokingham, former Secretary of State
For their comments in full, please read on.
Officials from the EU Commission have recently implied there could be a trade war if the UK does not capitulate on some of the key problems Lord Frost has raised about the functioning of the EU’s agreements with the UK.
Today’s shocking report from Fact4EU.Org reveals the sheer scale of what the EU would be putting at risk for its 27 economies, if it were to threaten trade between the EU and the UK.
Facts4EU.Org has analysed the latest 12 months’ trade figures to the end of August 2021, released by the EU on Friday (15 Oct). Specifically our report concerns the EU’s trade with the UK, as well as putting this into perspective in terms of the EU’s trade with the rest of the world.
Brexit Facts4EU.Org Summary
EU's international trade in 12 mths to end of Aug 2021 - Latest official EU data
(Euros converted to British pounds at average daily rate in those 12 mths: £1=€1.14)
Overall EU trade with the United Kingdom
- EU goods sales to UK : £252.2 billion
- EU purchases from UK : £131.7 billion
- EU’s trade SURPLUS : £120.5 billion
© Brexit Facts4EU.Org - click to enlarge
UK accounts for one in seven of all EU’s goods sales (by value) outside its bloc
- EU's total goods sales outside EU27 : £1844.2 billion
- EU's goods sales to UK : £252.2 billion (13.7%)
- EU’s good sales to rest of world : £1592.0 billion
© Brexit Facts4EU.Org - click to enlarge
Trade with UK delivers 69% of EU’s entire trade surplus with the rest of the world
- Total EU world trade surplus : £175.4 billion
- EU's trade surplus with UK only : £120.5 billion (68.7%)
- EU’s trade surplus with rest of world : £54.9 billion (31.3%)
© Brexit Facts4EU.Org - click to enlarge
EU’s trade surplus with the world is very small without the UK
The term ‘trade surplus’ refers to the difference between exports and imports. In the case of the United Kingdom’s relationship with the EU over the last 12 months, this difference is stark. The balance in favour of the EU is now over £120 billion pounds per annum. This is approximately 10 times the UK’s gross contribution to the EU when it was still a member state.
The EU’s total international trade surplus for the last 12 months to end-Aug 2021 was £175.4bn (€199.9bn euros). The UK accounted for an astonishing 68.7% of this, or £120.5bn (€137.4bn euros).
EU sells an average of £691 million of goods to UK every day – will it really put this at risk?
Our analysis of the last 12 months of trade data shows that the EU has been selling an average of £691 MILLION pounds worth of goods to the United Kingdom every single day.
Not only that, but the gap between what the EU27 sells to the UK - and what the UK sells to the EU27 - is bigger than it has ever been. The EU’s sales to the UK are now 91% higher than the UK’s sales to the EU – nearly double.
One in seven international sales from the EU are to British companies and the British public
Prior to the EU Referendum and in the years following this, it was said that the UK market was relatively unimportant to the EU.
Our research show that one in seven of all purchases of EU goods (by value) which are made outside the EU come from Brexit Britain. Any EU business faced with a proportion like this will do everything it can to ensure it can continue to have these revenues rolling in.
To put it simply, the majority of businesses operate on less than a 10% profit margin. The UK represents 13.7% of all EU27 sales worldwide. Putting this at risk will certainly get the attention of most boardrooms around the EU.
Remember Remainers claiming the UK was insignificant for the EU?
Above we have presented the key figures from the EU’s latest release of its international trade figures on Friday. These are not ‘massaged’ in any way. This is the business reality facing the EU, if it wants to take on the newly-independent United Kingdom. (The UK is minus Northern Ireland right now, thanks to the EU, but perhaps Lord Frost will sort this very soon.)
For those few Remainer-Rejoiners left, we would suggest they might wish to ‘recalibrate’ their arguments. The simple facts are that the United Kingdom is highly significant for the EU.
When those with no business experience take on responsibility for business, trouble awaits
Facts4EU.Org’s analysis of the latest EU international trade figures should make for sobering reading in Brussels. But will it?
The problem for the EU27 businesses and the millions who work for them is that the decision-makers in Brussels are unelected political ideologues who believe in the ‘EU Projekt’ to the exclusion of all else. Very, very few have ever worked in businesses that actually generate wealth.
And it’s these businesses that ultimately make the money that pays for these autocrats’ very generous salaries, gold-plated pensions, expense accounts, ‘golden handshakes’, ‘golden goodbyes’, and the rest. Even the lowliest EU Commissioner earns far more than Boris Johnson, the UK Prime Minister.
If the EU Commission wants to take on the UK, it should remember three things:-
- 69% of its international trade surplus is down to the UK
- One in seven of its international goods sales (by value) are down to the UK
- The EU’s annual sales of goods to the UK amount to £¼ trillion pounds, or €287.5 billion euros per annum
The Commission may not care, but any EU27 business leaders reading this might decide to reflect, and stop unelected autocrats with an ideological agenda and no business understanding, from creating what could become a catastrophic EU policy for them.
The United Kingdom is now an outward-looking, global trading partner of the EU. Right now this global outlook includes the EU. It would be a great shame if political ideology in Brussels made this an impossibility.
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[ Sources: EU Commission official trade statistics, released 15 Oct 2021 ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, Mon 18 Oct 2021
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