Is the UK that has much more to loose with a brexit as 44% of their exports are into EU countries.
The UK exported £274 billion of goods and services to other EU member states. This is equivalent to 44.5% of total UK exports.
• Goods and services imports from the EU were worth £342 billion (55.5% of the total) in 2017.
• The UK had a trade deficit of -£67 billion with the EU but a surplus of £41 billion with non-EU countries.
• The UK recorded a deficit in goods with both the EU and non-EU countries, but a trade surplus in services with both the EU and non-EU countries.
• The EU accounted for 48% of UK goods exports and 40% of services exports; 54% of imported goods and 49% of imported
services were imported from the EU.
All of these figures do not account for what is known as the Rotterdam
effect – this is the theory that the UK’s trade with the Netherlands is artificially inflated owing to goods being dispatched to or arriving from the port of Rotterdam, even if the original source or eventual
destination country is elsewhere.
This will also have a potential knock-on effect, as some trade recorded with the Netherlands, and thus the EU, may ultimately be with non-EU countries.