Britannia Radio

A few interesting ‘Facts’, the more so as they are gleaned from Brussels records The UK: the EU’s largest export market by rogeroffice 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 netcustomer.  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 out 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.  http://www.ecb.int/pub/pdf/mobu/mb201302en.pdf http://www.ecb.int/pub/pdf/mobu/mb201302en.pdf" href="http://www.ecb.int/pub/pdf/mobu/mb201302en.pdf" target="_blank">http://www.ecb.int/pub/pdf/mobu/mb201302en.pdf €urozone 2011 goods exports in descending order, by country, billions of €uros: UK           213.4 USA        200.6 China      115.5 Switz       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!