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UK SELLS MORE GOODS OUTSIDE EU.

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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

 

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NOVEMBER-2008

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