Total trade imports for November 2016 were £42.5 billion. This was an increase of £2.9 billion (7.4 per cent) compared with last month, and an increase of £7.6 billion (22 per cent) compared with November 2015.
The UK was a net importer this month, with imports exceeding exports by £13.2 billion.
Combined, the two distortions for exports have grown from an estimated £4 billion in 2004 to just over £10 billion in 2010. Both have very large margins of error as a result of the sweeping assumptions therein. The most likely inaccuracy is an overestimate in the Rotterdam-Antwerp effect, resulting from exports to the Netherlands that are not subject to the same rates of transhipment as fuels or containerized cargo. As a proportion of UK exports of £5-600 billion, the overall distortion is not great. The two distortions are an illustration that patterns of trade are not uniform. Particular commodities, such as oil and fuel, can have very specific markets. Particular accounting arrangements, such as in Luxembourg, can create a focus for international investment.Relations with one country can have implications beyond the purely bilateral.
German motor imports toBritain [see appendix]
Almost one in three cars, or 810,000 cars sold in Britain, come from Germany, making the British island the biggest export destination for German car producers. It is around a fifth of the total number the industry exports worldwide, according to the German car association, VDA. Britain reached a new market high of 2.6 million car registrations in 2015 – 86 percent of which were not produced in the UK.
French cars amounted to 253,297 which is approximately one car in 10. American cars, Ford and Vauxhall, are the largest importers and their total is 570,309 per annum.
|Rank||Manufacturer||Sales 2014||% Share||% Change||Sales 2013|