Brexit and EU trade - Statistics & Facts

In 2015, the European Union accounted for 43.7 percent (223 billion British pounds) of UK goods and services exports, and 53.1 percent (291 billion British pounds) of UK imports, therefore making it the UK’s largest and most important trade partner. Although, due to the result of the 2016 EU referendum on Brexit, the UK’s new trading relationship with the EU will be the product of negotiation.

As of 2015, the UK imports more from the EU than it exports to it. In this year the UK’s deficit on trade in goods and services with the EU was valued at approximately 23.4 billion British pounds, while the surplus with non-EU countries was slightly less than 11.3 billion British pounds.

Many Britons were aware of the importance of EU single market access. In fact, in a recent poll it was found that the majority of Britons regarded access to the European single market significantly more important than immigration limitations, despite many leave voters regarding immigration limitations being a primary reason to vote leave. Yet it would not be possible for the UK to leave the EU, limit immigration and retain the advantage of free trade with the Union. In order for the UK to leave the EU, it must first leave the free trade agreement, which is forecast to have a negative effect on the British economy.

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