UK trade with the EU plummets but surges with non EU countries

I'm doing OK with EU exports, don't have many going outside the EU though.

Reply 2

TheArtofProtest

2

EU Exports, over the last 18 months or so, has hovered around the 40-50% mark.

For September 2015, we increased our exports to non-EU countries by £0.7bn.
For September 2015, we increased our exports to EU countries by £1.2bn,

The EU is there to facilitate an easier trade. Instead of making 50 or 60 trade deals, each with their own level of complexity and differences, British exporters have to deal with simply a single market.

Reply 3

nulli tertius

Original post by Ace123

UK trade with the EU plummets 2.1% but surges 6.8% with the rest of the world. Compared to last year trade with the USA and Canada is up 30% and Japan up 10%. Is this more proof that EU trade is becoming less important and the UK should Brexit and pursue our own free trade deals?

http://www.dailymail.co.uk/news/article-3307939/Would-Britain-really-worse-EU-Exports-Europe-fall-2-1-rest-world-soar-6-8.html

That is like an aircraft plummeting from 30,000 feet to 29,370 feet.

Reply 4

MagicNMedicine

income tax contributions from Romanians and Bulgarians are up 3500% whereas for UK citizens are up only 2.6% maybe it shows you who is hard working and who is lazy

Reply 5

Original post by nulli tertius

That is like an aircraft plummeting from 30,000 feet to 29,370 feet.

It's also part of a tend, so it's like a plane going from 20,000 to about 19500, having already come down from 30,000

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Reply 6

Original post by MagicNMedicine

income tax contributions from Romanians and Bulgarians are up 3500% whereas for UK citizens are up only 2.6% maybe it shows you who is hard working and who is lazy

Maybe it shows different situations between countries. If we have low unemployment, steady wage growth, and no real change to the tax code there will only be modest tax revenue growth. If we instead were to have a plunge in unemployment, a significant wage increase pulling a lot of people into tax, or a change in legislation to significantly increase the rate of tax it would go up significantly more.

Which economy grows faster, the newly industrialised one with a lot of slack, of the one that industrialised over two centuries ago? The one with the greater capacity to increase will almost certainly increase by more.

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Reply 7

Original post by Jammy Duel

It's also part of a tend, so it's like a plane going from 20,000 to about 19500, having already come down from 30,000

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How do you know the exports to none EU countries aren't a blip? China's economy is slowing down due to a slow down in its exports and rising wages. Thats why its dumping steel onto world markets and lowering the prices for steel worldwide and closing down UK steel makers.

Reply 8

Original post by Maker

How do you know the exports to none EU countries aren't a blip? China's economy is slowing down due to a slow down in its exports and rising wages. Thats why its dumping steel onto world markets and lowering the prices for steel worldwide and closing down UK steel makers.

Because there are these things called trends, you look at data over a period of time and do a bit of statistical analysis, those trends show increased trade outside the EU, and thus decreased within, as a proportion of all our trade. Oh, and you do realise that there is more to the world than the EU and China?

Reply 9

balanced

17

Original post by Ace123

UK trade with the EU plummets 2.1% but surges 6.8% with the rest of the world. Compared to last year trade with the USA and Canada is up 30% and Japan up 10%. Is this more proof that EU trade is becoming less important and the UK should Brexit and pursue our own free trade deals?

http://www.dailymail.co.uk/news/article-3307939/Would-Britain-really-worse-EU-Exports-Europe-fall-2-1-rest-world-soar-6-8.html

As I've always been saying, we need a trade deal with China, and other large countries.

Reply 10

Original post by Jammy Duel

Because there are these things called trends, you look at data over a period of time and do a bit of statistical analysis, those trends show increased trade outside the EU, and thus decreased within, as a proportion of all our trade. Oh, and you do realise that there is more to the world than the EU and China?

You do know anything to do with economics such as exports and imports look like a mountain range with both ups and downs. If if was as simple as you seem to think, it would be easy to make a lot of money by investing in non EU companies and I expect you are a millionaire by now if you followed your own advice.

(edited 8 years ago)

Reply 11

Original post by balanced

As I've always been saying, we need a trade deal with China, and other large countries.

China will be more than happy to screw Britain by making us accept cheap steel that cost UK jobs. Any trade agreement between China and Britain will not be in our favour because China has more economic power than Britain.

Reply 12

Original post by Maker

You do know anything to do with economics such as exports and imports look like a mountain range with both ups and downs. If if was as simple as you seem to think, it would be easy to make a lot of money by investing in non EU companies and I expect you are a millionaire by now if you followed your own advice.

You realise most things have ups and downs, that does not mean that there is no trend there, I suggest you have a look at, for instance, a stock index. Look at it over a few days and there will be ups and downs and a trend, months, there will be ups and downs, and a trend, years, ups and downs, still trends there

Reply 13

Rakas21

While an interesting set of figures it doesn't really sway my opinion on the EU matter in either direction.

Reply 14

MatureStudent36

5

Original post by Maker

China will be more than happy to screw Britain by making us accept cheap steel that cost UK jobs. Any trade agreement between China and Britain will not be in our favour because China has more economic power than Britain.

How is China making the uk accept cheap Chinese steel?

Reply 15

TheArtofProtest

2

Original post by MatureStudent36

How is China making the uk accept cheap Chinese steel?

The same way that it is cheaper for Scottish fisherman to send their salmon to China to be filleted and sent back to be sold in the UK than it is to employ British people to do the job here.

By flooding the market with cheap steel, in an economy and society like ours, a firm that uses a lot of steel wouldn't really care whether it came from Britain or Timbuktu. Price is king.

Reply 16

Original post by MatureStudent36

How is China making the uk accept cheap Chinese steel?

By making it cheaper than UK produced steel obviously.

If Britain negotiated with China outside the EU, China being a much bigger economy can leverage that to make trade conditions more favourable to them and less favourable to Britain.

Reply 17

Original post by Maker

By making it cheaper than UK produced steel obviously.

If Britain negotiated with China outside the EU, China being a much bigger economy can leverage that to make trade conditions more favourable to them and less favourable to Britain.

As opposed to Germany making the conditions most favourable to them wait what's that they want low steel prices?

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Reply 18

MatureStudent36

5

Original post by Maker

By making it cheaper than UK produced steel obviously.

If Britain negotiated with China outside the EU, China being a much bigger economy can leverage that to make trade conditions more favourable to them and less favourable to Britain.

Here's a crazy idea. Maybe a win win situation could have been negotiated that's beneficial to both parties?

Why do you always think that China comes off better?

Reply 19