UK’s Eurozone exports hit new low

UK based companies exported £25.78 billion worth of goods in July with only £11.24 billion heading into the Eurozone. The full trade data from the Office for National Statistics also showed that exports of goods beyond the wider European Union States exceeded exports to the other EU countries.

With the emerging economies continuing to outpace the moribund European Union these figures are not surprising and of course unlike with the EU we do not have to pay billions of pounds in membership dues every year in order to be able to sell goods to the rest of the World!

10 thoughts on “UK’s Eurozone exports hit new low

  1. Equally, we get to help make the rules. Ask Malaysia how much influence it has in mainland Europe, and whether it has to obey the EU’s rules to get to trade here.

    • Unfortunately all too often the view of the UK is over-ruled because of Qualified Majority Voting and the rest of the EU are able to force new regulations on British businesses; like it or not; and the UK has to pay for the privilege!

  2. “UK based companies exported £25.78 worth of goods in July with only £11.24 billion heading into the Eurozone. The full trade date (sic) from the Office fro (sic) National Statistics …”
    David, suggest you get George O to run those figures past you again. Knew things were bad but can’t believe we only exported less than £30s worth of goods in July.

  3. If all our MPs base what can only be very crude conclusions, that reinforce their prejudices, on ONE months trade figures then quite honestly I give up. And so should you.

    Suggest you seek a statisticians view on what can meaningfully be understood from the, corrected, figures you present here.

    • Hi,

      No need to worry. I entirely agree that conclusions should not be based on one month’s figures. It is the trend that is important and the trend is that emerging markets are growing much faster than the Eurozone.

      David

  4. Just wondering – are you one of the MPs who want the UK to withdraw from the European Arrest Warrent system ? If so perhaps you could explain how it would be a useful thing to do.

    • As long as there are effective and appropriate extradition procedures in place I see no reason why we could not withdraw from the EAW. We have such procedures in place with many other countries around the World.

    • My main concern is that the EAW does not reflect the different criminal offences. I think most people are concerned that British citizens may be extradited for what would be very minor offences in Britain. Secondly, the EAW is a step towards a single European State when in fact people voted in 1975 to remain members of the Common Market — nothing to do with a common legal system.

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