UK SELLS MORE GOODS OUTSIDE EU.
*
Trends discernable in the data
time-series in the Pink Book 2008 suggest that by the
end of the next Parliament, around [66%] of
British exports will be going OUTSIDE THE EU.
The proportion of UK exports going top
the 26 EU countries is SHRINKING, and well under half of
UK worldwide exports - even on the unadjusted official
statistics produced by the Office of national Statistics
("ONS"), which OVERSTATE UK exports to the EU
|
TABLE 1:
Proportion of Worldwide British Exports (1) Going to
the EU(2) |
YEAR |
.99 |
00 |
.01 |
.02 |
.03 |
.04 |
.05 |
.06 |
.07 |
PERCENTAGE |
51.6 |
50.9 |
52.4 |
52.3 |
50.8 |
49.2 |
47.3 |
48.80 |
46.9 |
1: Exports
of Goods & Services plus Receipts of Income & Transfers |
2:
EU-26: the 26 countries which are the UK's
fellow-EU-members. |
TABLE 2: Rate of Growth
(1) of British Exports(2)-1999 - 2007 |
|
|
|
|
% |
|
|
|
Index |
|
To EU -26 |
|
|
|
6.91% |
|
|
|
100 |
|
To rest of the World |
|
|
|
9.48% |
|
|
|
137 |
|
1: Average
annual compound growth rate, 1999 -2007 inclusive. |
2: Exports
of Goods & Services plus Receipts of of Income &
Transfers. |
According to the unadjusted official
data, over the period, over the period 1999 -2007
inclusive, UK EXPORTS to the WORLD
OUTSIDE
the EU grew at a rate 37% faster that that of UK exports
to the EU-26. (TABLE 2). Even within the
geographically-defined area of EUROPE, there are big
differences in the growth rates of UK EXPORTS to its
component REGIONS. Exports to EFTA grew 58% faster than to the EU, while exports to other European
States including RUSSIA and TURKEY) grew 2.6 TIMES
faster than to the EU. (Table 3) |
TABLE 3:
Rate of Growth (1) of British Exports (2) to
"EUROPE", 1999 - 2007 |
|
|
|
|
% |
|
|
|
Index |
|
To EU 26 |
|
|
|
6.91% |
|
|
|
100 |
|
To Rest of the WORLD |
|
|
|
10.94% |
|
|
|
158 |
|
To other European States/Russia |
|
|
|
17.97% |
|
|
|
260 |
|
1: Average
annual compound growth rate 1999 - 2007 inclusive. |
2: Exports
of Goods & Services plus Receipts of Income & transfers. |
3:
Switzerland, Norway, Iceland, Lichtenstein. |
|
NB All tables: figures not
adjusted for the Rotterdam-Antwerp Effect or the
Netherlands Distortion. Source All
Tables) The Pink Book 2008. |
eurofacts
28TH NOVEMBER 2008-
eurofacts@junepress.com
[We are now informed by eurofacts
that a French eurocrat had stated that the
Single Currency has been a FAILURE. What better
endorsement of the warning given
by Peter Jay in International Currency Review Vol 23 [August 1996] and
reprinted in October 2005
WE TOLD YOU SO
in
WARNING FROM OUR MAN IN WASHINGTON IN 1996 -EURO DOOMED
TO FAILURE
|
*
NOVEMBER-2008
HOME |