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Sunday, 9 August 2015

Exports and Imports, the true UK position with the EU.

Latest Trade Figures with the EU.
EU Exports for June 2015 are £11.8 billion. This is an increase of £0.5 billion (4.9 per cent) compared with last month but a decrease of £0.5 billion (4.2 per cent) compared with June 2014.

EU Imports for June 2015 are £19.1 billion. This is an increase of £1.8 billion (10 per cent) compared with last month and an increase of £0.5 billion (2.4 per cent) compared with June 2014.

If we look at June's figures, the latest available, we see we exported £11.8 billion and we imported £19.1 billion.

Simply put, we can see that the EU exported £7.3 billion more to the UK than the UK exported to the EU.

If we left the EU and they put a ten percent tariff on our exports, we could retailiate in a similar fashion. Once the EU see they are losing out, they'll soon come to an agreement with us to drop tariffs! That is, if they did so in the first place, which is highly unlikely as they also have these figures.

The above export figures don't take into effect the "Rotterdam Effect". A lot of our exports go to the huge container port in Rotterdam for onward transmission to the rest of the world. This is not, in this case, the EU cheating, as it is accepted that exports are to the first port where the goods are unloaded. However, our government keep pretty damn quiet about this.

On searching the net, there are many different figures for the Rotterdam Effect ranging from 10% to 40% of the export figure. The £7.3 billiom figure should be increased by the true figure. If anyone has the latest figgure for the Rotterdam Effect, I'd appreciate a comment with the figure in, below.

Ampers.


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