In 2014, the United Kingdom exported $472B making it the 9th largest exporter in the world, and imported $663B making it the 5th largest importer in the world. In fact we export more to Holland (7.2% of UK exports) alone than to the entirety of the Commonwealth's 53 nations!
The Observatory of Economic Complexity [OEC] figures state:
"The top export destinations of the United Kingdom are the United States ($51B), Germany ($46.5B), the Netherlands ($34.2B), Switzerland ($33.6B) and France ($27B)."
"The top import origins are Germany ($100B), China ($62.7B), the Netherlands ($50.7B), the United States ($44.4B) and France ($41.5B)."
So whilst the USA figures as our single nation top export market (11% of exports), it is still not a match for the value of exports from the UK to the whole EU marketplace; whilst exports to China form the same amount as exports to France (5.7%).
If Brexit occurs, the UK would need to re-negotiate more than 100 trade agreements, all of which take time and meanwhile what happens to our businesses trading outside of the UK?
Source of facts:
http://atlas.media.mit.edu/en/profile/country/gbr/
The Observatory of Economic Complexity [OEC] figures state:
"The top export destinations of the United Kingdom are the United States ($51B), Germany ($46.5B), the Netherlands ($34.2B), Switzerland ($33.6B) and France ($27B)."
"The top import origins are Germany ($100B), China ($62.7B), the Netherlands ($50.7B), the United States ($44.4B) and France ($41.5B)."
So whilst the USA figures as our single nation top export market (11% of exports), it is still not a match for the value of exports from the UK to the whole EU marketplace; whilst exports to China form the same amount as exports to France (5.7%).
If Brexit occurs, the UK would need to re-negotiate more than 100 trade agreements, all of which take time and meanwhile what happens to our businesses trading outside of the UK?
Source of facts:
http://atlas.media.mit.edu/en/profile/country/gbr/
