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Re: Britain outside the EU
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Originally Posted by OLD BOY
Well, let’s see the figures according to jfman since you are the one spreading all the doubt.
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Well, since you haven’t shown your source…
Anyway, here’s the whole picture, rather than focusing on one area - it’s good that exports are growing, but so are imports and our trade deficit.
https://commonslibrary.parliament.uk...fings/sn02815/
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In 2022, the UK’s exports of goods and services totalled £834 billion and imports totalled £902 billion. The EU accounted for 41% of UK exports of goods and services and 47% of imports in 2022.
The UK generally imports more than it exports meaning that it runs a trade deficit. A deficit of £219 billion on trade in goods was offset by a surplus of £151 billion on trade in services in 2022. The overall trade deficit was £68 billion in 2022.
The UK had a trade deficit with the EU of £81 billion in 2022 and a trade surplus of £13 billion with non-EU countries.
The trade deficit with all countries decreased to £7.9 billion in the three months to August 2023 compared with a £9.4 billion deficit in the previous three months. Exports decreased by 1.5% in cash terms over this period while imports decreased by 2.1%.
The current account, which includes investment income and transfers as well as trade, saw a deficit of £78 billion in 2022, compared with £11 billion in 2021. The current account deficit was 3.1% of GDP in 2022 compared with 0.5% in 2021.
The current account deficit widened to £25.3 billion in Q2 2023 (3.7% of GDP), compared with a deficit of £15.2 billion (2.3% of GDP) in Q1 2023.
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Last edited by Hugh; 27-10-2023 at 21:35.
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