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The UK: the EU`s largest export market
Date 25/02/2013 16:50  Author webmaster  Hits 6161  Language Global
The UK represents the largest proportion of Eurozone exports. Far from being “isolated and marginalised”, an independent Britain will be a key trading partner of Europe, writes UKIP MEP Roger Helmer.

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A simple and striking fact, which is little-known and has astonished a number of folk in the EU institutions in Brussels: when Britain leaves the EU, it will become the EU’s largest export market.  Bigger than the USA.  Bigger than China.

Some people ask whether it will be possible to negotiate a Free Trade Agreement with the EU when we leave.  But with the EU scrabbling to set up FTAs with a host of countries around the world, it is inconceivable that they would not agree an FTA with their largest export customer — especially when that customer is also a major net customer.  We import far more from the EU than they import from us.  An FTA will benefit both sides, but arguably it will benefit them more than us.



I was in the Philippines recently, and mentioned this fact to an official at the EU “Embassy”.  He simply couldn’t believe it, so I dug our the figures.

The data I am quoting are for exports from the €urozone, not EU minus UK.  But of course the €urozone is not a bad surrogate for the EU minus the UK.  I’ve taken the numbers from the ECB’s Monthly Bulletin for February 2013, page 173.

€urozone 2011 goods exports in descending order, by country, billions of €uros:

UK
213.4
USA 200.6
China 115.5
Switzerland 109.2
Russia 79.8
Sweden 60.4
Turkey 56.7
Japan 39.4

The UK represented over 12% of all €urozone exports.  Far from being “isolated and marginalised”, an independent Britain will be a key trading partner of Europe.  Roll on Independence Day!


Roger Helmer's blog
www.ukip.org
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