Originally posted by _V_
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EU and trade agreements
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EU and trade agreements
Originally posted by original PM View Posthttp://www.express.co.uk/news/uk/838...-deficit-video
It's all good according to the express anyway.
[emoji19]
Somewhat overstating the position, however it is true that the UK is not insignificant in terms of EU trade.
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Originally posted by PurpleGorilla View PostSomewhat overstating the position, however it is true that the UK is not insignificant in terms of EU trade.
Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by vetran View Postthat's the trick use pictures!Comment
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So the UK exports £213,981 million to the EU and the UK imports £290,961 million from the EU from the table above.
Also in that table are the % of the GDP.
11.45% of the GDP of the UK makes up that £214 billion
3.13% of the GDP of the EU makes up the £291 billion.
So, if the UK does not get a good trade deal with the EU, then the EU potentially loses 3.13% of it's GDP. That's quite a lot. But if the UK does not get a good trade deal with the EU, then the UK potentially loses 11.45% of it's GDP.
Who suffers more? The one who loses a potential 3.13% or the one who loses a potential 11.45%?
*note that I have used the same currency throughout, but the exchange rate for EUR to GBP in the table above is 1.3777, so the figures must be from some time ago.…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostSo the UK exports £213,981 million to the EU and the UK imports £290,961 million from the EU from the table above.
Also in that table are the % of the GDP.
11.45% of the GDP of the UK makes up that £214 billion
3.13% of the GDP of the EU makes up the £291 billion.
So, if the UK does not get a good trade deal with the EU, then the EU potentially loses 3.13% of it's GDP. That's quite a lot. But if the UK does not get a good trade deal with the EU, then the UK potentially loses 11.45% of it's GDP.
Who suffers more? The one who loses a potential 3.13% or the one who loses a potential 11.45%?
*note that I have used the same currency throughout, but the exchange rate for EUR to GBP in the table above is 1.3777, so the figures must be from some time ago.
But, some EU countries trade more with the UK than others. For example, the Irish Central Banker recently projected a -3% GDP impact through hard brexit for Ireland.Comment
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Originally posted by PurpleGorilla View PostI remember reading the pessimistic projection in the EU published economic impact analysis suggested at hit of 7% to the UK. Can't remember what it was for the EU, less than 1% I think.
But, some EU countries trade more with the UK than others. For example, the Irish Central Banker recently projected a -3% GDP impact through hard brexit for Ireland.Comment
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EU and trade agreements
Originally posted by northernladyuk View PostYes - looking tough for Ireland. Some jobs will be picked up in finance, creative media and perhaps pharma / medical devices, but won't be enough to offset the damage. Doesn't help that the UK government position is to leave the customs union and single market.Last edited by PurpleGorilla; 8 August 2017, 10:50.Comment
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Originally posted by PurpleGorilla View PostI remember reading the pessimistic projection in the EU published economic impact analysis suggested at hit of 7% to the UK. Can't remember what it was for the EU, less than 1% I think.
But, some EU countries trade more with the UK than others. For example, the Irish Central Banker recently projected a -3% GDP impact through hard brexit for Ireland.
https://www.ceps.eu/system/files/IMC...ublication.pdfComment
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Originally posted by PurpleGorilla View PostI don't think we will be leaving either (the single market or the customs union).
What parts of EU policy do you think (not hope) we will end up leaving?…Maybe we ain’t that young anymoreComment
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