Re: Brexit Anyone? (part 4) : Fri Jan 24, 2020 3:12 pm
Sal Paradise wrote:
Time will tell - EU exports accounts for 7% GDP - trade with the EU has fallen by 9% in the last 16 years so perhaps the scaremongering isn't really quite accurate? Our reliance on the EU is falling - no bad thing.
I think that you ought to look at our trade with the EU as a % of all of our exports (it's around 45%), it's a HUGE figure.
Our imports from the EU, taken as a percentage of their exports, although similar in pure cash terms is a single figure percentage point of all of their exports.
All of the nonsense about the figures being roughly equal and that they need us as much as we need them was always a distortion of the figures.
I'm sure that in time, we will find new markets for some of our products and we may also find better "deals" on some of the products that we import but, our trade with the EU hasn't been built up to current levels by accident.
The geographical factors, with the ability to source and supply goods accross the channel quickly and efficiently is THE reason for the level of trade that we currently do, not to mention the finance industry, which has benefitted massively form being part of the EU "club", something which can only go in one direction, now that we have found the exit.
The sun will keep on rising in the morning and the planet keep on turning and whilst we may have "taken back control", we have also scored a huge economic own goal.