UK’s exporters to EU achieve highest-ever sales, as records keep tumbling
The latest trade figures released by the Office for National Statistics (ONS) demolish Project Fear’s claims that UK exports would ‘fall off a cliff. UK exports to the EU continue to climb, with a 42.3% increase when comparing July 2022 with July 2016 (just after the EU Referendum).
At this time of national mourning for our dear departed Queen, I thought readers might want some good news. As the BBC will not provide it, I will.
Last month all records were broken once again as the UK’s exporters continue to defy the obstacles placed in their way by the EU — all of which makes awkward reading for Rejoiners.
UK goods exports to the EU, 2016–2022
1. July 2022 compared with July 2016
- July 2016: £12.2 bn
- July 2022: £17.4 bn
- Percentage increase: 42.3%
[Source: Office for National Statistics, 12 Sept 2022.]
Brexit Britain beats all the odds to record massive highs
Despite the EU being about to go into recession, the EU is continuing to buy more from the UK than it has done since records began in 1979. Even allowing for inflation and for the increase in the price of energy products sold to the EU, the numbers are impressive.
For example, the ONS reported that sales of machinery and transport equipment to the EU had risen by £0.4bn in the month of July alone.
And no, this is not all about higher prices for energy products
The UK’s trade deficit with the EU has also been dropping. The ONS went on to say “Removing the effect of inflation, the total trade deficit, excluding precious metals, narrowed by £2.0 billion to £20.8 billion in the three months to July 2022.”
Note: There are hundreds of thousands of figures in the trade figures which are issued. In their headline numbers, the ONS use “trade figures which exclude non-monetary gold and other precious metals. This is because movements in non-monetary gold, an important component of precious metals, can be large and highly volatile, distorting underlying trends in goods exports and imports.”
Meanwhile, the UK bought less from the EU in July
The EU sold less to the UK according to July’s data. The ONS explains this as follows:-
“The fall in imports of machinery and transport equipment in July 2022 was because of reduced car imports from Germany and Spain.”
- ONS trade report, 12 Sept 2022
Over the last six years, British truckers have had to contend with everything from Dutch Customs officials rejecting loads because “the wrong coloured ink” was used on the export forms, to French Customs officials being… well, particularly French.
Nevertheless, the UK’s exporters have persevered and have clearly won through. I congratulate them all, especially the lorry drivers.
You won't find this on any BBC news report that I can guarantee. The Office for National Statistics on the other hand a reputable organisation that collects data that somehow Remainers/ Rejoiners always never go to for information. Well, thats another story.