Oops! Another Brexit Britain win for Rejoiners to try to explain away

UK’s services exports have risen almost 30% in real terms since the EU Referendum year

Montage © Facts4EU.Org 2024

Brexit Facts4EU.Org once again blows apart the ‘Rejoin’ narrative, using the official data

On Friday 26 April 2024, the Office for National Statistics released sets of official data about how well the UK’s export economy is working. We first reported on part of this here.

Today we can reveal that the UK’s service sector has increased its exports globally by almost 30% since the EU Referendum year of 2016. And to reinforce the point we are using the figures in real terms (after adjusting for inflation).

Brexit Facts4EU.Org Summary

UK services exports, 2016-2023, CVM (taking out inflation)

2016 : £294.3 bn
2017 : £313.3 bn
2018 : £332.2 bn
2019 : £338.5 bn
2020 : £302.6 bn
2021 : £330.0 bn
2022 : £357.2 bn
2023 : £381.1 bn

[Source : Office for National Statistics, 26 Apr 2024.]

These are facts which simply do not fit the Rejoin narrative

It is well-known that 80% of the UK economy is based on services. The EU Commission’s trade deals – limited as they are - have always been based around the export of goods. Services – at which the UK has traditionally excelled – were virtually ignored.

The Commission is finding it increasingly difficult to do more trade deals because they are now including the requirements of their ‘Green Agenda’. This is not going down well around the world and is increasingly under attack from several EU member countries.

The EU’s attempted trade deals with Australia and with the South American countries of the ‘Mercosur’ group are currently stalled.

Meanwhile the UK’s services sector is flourishing in terms of its exports globally.

Observations

It must be increasingly difficult to be a Rejoiner these days. The good news for Brexit Britain just keeps on coming, despite the strong head winds as a result of world events such as Covid-19, then Putin’s invasion of Ukraine, then the surge in oil prices and inflation.

In our analysis above we have stripped out the effects of inflation to present a summary of just how well the country’s services sector is doing in exporting around the world.

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[ Sources: Office for National Statistics ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Sat 04 May 2024

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Reader Comments 5

1. Captain Thunderbolt , Saturday, May 04, 2024, 06:26:

Well done!
.
Macron claims Brexit has ‘impoverished’ the UK in squabble with Downing Street
.
dire de la merde

2. Sparky , Saturday, May 04, 2024, 08:02:

How about inflation which is 31.1% over the same period.
.
From CityAM. In March, the Office for Budget Responsibility (OBR) noted that around two thirds of the growth in services trade volumes since 2019 has been driven by ‘other business sectors’.
This catchy title includes some of the UK’s fastest growing sectors, such as consulting, accountancy and R&D. By contrast, exports of financial services and transport have lagged other sectors, declining 5.9 per cent and 2.0 per cent respectively.
“The UK has real emerging strengths in travel and professional services – alongside other business services such as law, auditing and accounting,” William Bain, head of trade policy at the British Chambers of Commerce.
.
Good that services are increasing but clearly businesses are working hard to drive business despite Brexit.
.
The election results this week are a clear indicator of what the UK think of Brexit.

3. NH , Saturday, May 04, 2024, 10:07:

2. Sparky, "How about inflation which is 31.1% over the same period"
Did you not read the article or did you not understand it ?
Facts4EU repeatedly state that they are using Constant Volume Measures so it discounts the effect of inflation.
.
2. Sparky, "By contrast, exports of financial services and transport have lagged other sectors"
What's your point ?
Financial Services have never been included in EU membership agreements. The EU has constantly tried to take Financial Service Business away from the UK by using the fact that we were not in the Eurozone. This started in 2011 a long time before Brexit so how can it have been caused by Brexit ? Since Brexit the UK has remained the worlds largest net exporter of financial services.
.
2. Sparky, "but clearly businesses are working hard to drive business despite Brexit."
What on earth are you referring to ?
Leaving the EU has allowed the UK to make trade deals that suit our economy, this is just starting.
.
2. Sparky, "The election results this week are a clear indicator of what the UK think of Brexit"
The UK elections were mainly local authority elections. Local Authorities do not control Foreign Policies ! In the By-Election Reform did very well with 17% of the votes. Gina Millar's "True and Fair" pro EU party would struggle to beat the "Tooting Popular Front" in a fair election.

4. Gazzablack , Saturday, May 04, 2024, 11:40:

An analogy of what sparkless is saying.
.
A man walking down the street noticed a £2 coin on the kerbside.
Hey ho, he was suddenly £2 richer
This was DESPITE Brexit.
.
Another man was walking down the road when he realised he'd a hole in his pocket, and the 50 pence piece he had been carrying was no longer tbere.
Oh dear, he was sadly 50 pence poorer
This was of course, a RESULT of Brexit

5. SM , Saturday, May 04, 2024, 21:18:

You do realise that there are two sides of a balance 'sheet' in trade, don't you. If net exports are negative, there is not positive contribution to GDP. If that situation persists, growth in GDP and the economy is more difficult and reliant on the contributors to GDP, i.e. C+G+I

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