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

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

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%)

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).

The Rt Hon David Jones, MP for Clwyd West - His comments in full

Mr Jones was one of the ministers serving in Theresa May's Government who valiantly tried to implement the sovereign decision of the British people to leave the European Union.

“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.”
“The UK is far and away the EU’s biggest export market in the region, and EU businesses would undoubtedly be very concerned if the Commission’s threats of a trade war over the Northern Ireland Protocol were ever to come to fruition.
“In those circumstances, the UK - which is the world’s fifth biggest economy - would undoubtedly pivot away from the EU and seek new suppliers from the rest of the world. That would be catastrophic for thousands of EU businesses that trade with the UK.

“The extent of EU dependence on the UK has always been one of the strongest cards in Lord Frost’s hand in the continuing negotiations over the Northern Ireland Protocol. That much is clear from the concessions announced last week by Maroš Šefčovič, after months of saying that the Protocol was non-negotiable.
“Now Lord Frost must press his advantage still further and insist on the removal of all vestiges of EU authority in Northern Ireland, including the jurisdiction of the European Court of Justice.
“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

Facts4EU.Org would like to thank this distinguished parliamentarian for giving up his time on a Sunday to review and comment on our findings.

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.

The Rt Hon Sir John Redwood, MP for Wokingham - His comments in full

Sir John is a former Secretary of State who has consistently been a firm advocate for leaving the EU during many years of service as a Member of Parliament. He writes a daily diary available online here.

“UK consumers will buy more local items, the more the EU threatens us.”

“We lost market share in steel and cars, in fish and farm products, in energy and flowers. They would be unwise to start a trade war.
“The UK can now rebuild import saving home production, replanting our orchards, building new glasshouses, catching our own fish, making more of our own cars. UK Consumers will buy more local items, the more the EU threatens us.”

The Rt Hon Sir John Redwood, MP for Wokingham, former Secretary of State who also held several Shadow Secretary positions including that for Trade and Industry.

Facts4EU.Org would like to thank this distinguished parliamentarian for giving up his time on a Sunday to review and comment on our findings.

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.

Observations

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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Reader Comments 18

11. Derek Lund , Monday, October 18, 2021, 19:41:

Comment 5. Roger Mellie; I haven't fact checked your statements on the Australia deal but will assume they're true. My point here is that there's a world of difference between "easier working visas for under 35s" and freedom of movement equivalent to what we had with the EU. Under the latter anyone, under or over 35, could pitch up on our shores, for good or for ill, without any justification whatsoever.
-
Comment 3. Phil; Jolly decent of you to explain trade to us numpties. Don't think me ungrateful for your explanations but Joe Biden's USA has empty shelves too and ships are anchored off the Californian coast awaiting discharge. I dread to think what Biden's demurrage bill will be. Also, read John Redwood's comments again especially "The UK can now rebuild import saving home production, replanting our orchards, building new glasshouses, catching our own fish, making more of our own cars". Ford's recent announcement of their plans for Halewood reinforce the "make more of our own cars" bit.

12. Milly , Tuesday, October 19, 2021, 01:58:

Comment 8 Paul - how many countries had to give up their teritorial waters? How many countries are subject to the eu courts? There are dozens of ways where the uk is treated completely differently to every other country in the world by the eu & use the excuse its because we're so close.

13. McRobbie , Tuesday, October 19, 2021, 09:07:

Phil, Phil... trade is a two way thing, you are correct. In the eu it was pressured into being a one way thing.. eu or eu. Despite that the majority of our exports were with non eu nations, and what makes you think non eu nations will not wish to trade with us further. At least we won't have to pay 20 billion a year for the privilege of the so called "free" trade. I am quite sure that many many nations will be happy to sell to us at lower tariffs than that 20 billion a year.

14. Gary Taylor , Tuesday, October 19, 2021, 23:22:

seems like a good time to Knock this global green agenda on the head and start to re-invent north sea oil and gas, shale gas ,Rolls Royce nuclear power generation, hydrogen fuel cells and British steel and British farming and British self sufficiency , if only to pizz the limp wristed remainers off .Once this is done we the Great British public can have cheaper energy bills and be able to afford to buy quality British produce rather than weeks old imported eurotrash. Time to abandon the covid hoax crisis/green oppression/one world fascism that is about to be imposed upon us .Ditch the world slavery to the rothschild banksters bring back the Bradbury Pound and once again stand up as a proud nation. God bless Great Britain.

15. Dave , Wednesday, October 20, 2021, 09:59:

14. Spoken like an early-school-Leaver who has done some "research" on bias-reinforcing social media. All conspiracy talk & no expertise, as usual. I do like your oven-ready idea though, about self-sufficiency just to "pizz" off half the nation - please don't let anyone hinder you. That way it's not just the educated half carrying you along during your pipe dream. You could "get it done" by the turn of the century. Not a moment to lose; a good place to start would be if you drive some lorries or pick some fruit or work in a care home or pick up a fishing rod under our new & improved tax hikes. After that you can roll up your sleeves in getting multiple phDs in physics, chemistry, engineering, medicine ... that'll really get to those limp-wristed remainers.

16. Melvyn Helsey , Wednesday, October 20, 2021, 11:53:

The trade imbalance is a weapon in our favour if only our spineless Government would use it.

17. Rob , Wednesday, October 20, 2021, 13:17:

I'd say ask the think tank but evidently they miss the point too. A trade imbalance, as a net importer which has neither the manufacturing base, the skills nor manpower to quickly build one, is not at an advantage. It is a disadvantage. How strong are you if everyone does everything for you? What happens when they suddenly stop?
This government get that too. Why do you think they are avoiding walking away completely if things are in our favour? Our current situation shows that we're clearly at a disadvantage.
We're all in, alone, on our very first poker game against the house. You got to know when to hold, when to fold, when to walk away, when to run. It's too late to hold, you chose against that. Folding is accepting an all-in loss. Walking away is not an option because we'll have finally shown our hand & seen to be bluffing - a position that is worse than a loss. Running would be telling every other poker player that we shouldn't even be offered a seat at the table. There is no advantage in any of this. It'd be best to learn the game before betting the future on it.

18. Mick , Thursday, October 21, 2021, 23:05:

Just one Question.
If the people/businesses in the UK could buy (what the EU are selling them), from UK businesses. Why is the EU selling so much to them?
Logic would dictate that what they are buying is (A) Unavailable from UK Businesses and or (B)Much more expensive from UK businesses.
So in the event of a Trade War with the EU, the people/businesses in the UK would be the ones having to do without, or paying far more.

18 comments, page 2 of 2

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