Latest figures show again that it’s no wonder they call the UK “Treasure Island”
Research shows that the EU27 has made over half a trillion pounds (£539.2 billion) in the last decade, from trading goods and services with the United Kingdom.
Conversely, when it comes to the United Kingdom’s trade with the Rest of the World, the UK’s surplus totaled over a quarter of a trillion pounds (£285.7 billion) in the last decade.
The UK’s deficit with the EU is 18 times worse than it was 10 years ago. The UK’s surplus with the rest of the world has grown by 150 times from where it was 10 years ago.
The simple, stark facts of how the EU27 have profited from the UK in the last 10 years
- The cumulative trade deficit (goods and services) with the EU, 2010–2019
UK’s deficit with the EU — (negative) £539.2 BILLION
The cumulative deficit with the EU is 18 times worse than it was 10 years ago
UK’s surplus with the rest of the world was (positive) £285.7 BILLION
The cumulative surplus with the rest of the world is 150 times better than it was 10 years ago.
2. The annual trade deficit with the EU / annual trade surplus with the rest of the world
Last year (2019), the UK’s trade deficit with the EU was (negative) £71.6 billion
It has more than doubled from where it was in 2010–10 years ago
Last year the UK’s trade surplus with non-EU countries was (positive) £47.7 billion
This has grown dramatically from a small deficit in 2010, 10 years ago
Statistical note: All data sourced from the latest official ONS figures which came out two weeks ago
Thanks largely to our majority pro-Remain media, large swathes of the British electorate are still not aware of fundamental facts such as those I have shown so dramatically above. No-one can predict the future — as the COVID crisis has shown — and I feel it continues to be important to ram home messages like this
Sources: United Kingdom Office for National Statistics