Who Buys British Who Does Not Buy British

Who Buys British? Who Does Not Buy British?

The Europe vote is difficult as we don’t know enough and we assume many don't.  We are therefore ignoring the 'spin' from both camps and doing our own research on whether we get anything out of Europe as people keep saying they are our biggest trade partner.

The UK's Top 10 Trade Deficits Top 10 Trade Surpluses:

The top 10 trade deficits for UK i.e. countries that sell lots to us but do not buy much from us:  (source worldstopexports.com)

• Germany: -$46.1 billion
• China: -$33.9 billion
• Netherlands: -$20.3 billion
• Norway: -$14.1 billion
• Belgium: -$13.5 billion
• Italy: -$11.2 billion
• France: -$9.1 billion
• Spain: -$8.2 billion
• Canada: -$7.2 billion
• Poland: -$6.9 billion

8 of the top 10 countries that we buy more from than sell to are European i.e. many European nations do not buy as from the UK.  Germany sold $46.4billion in goods/services to UK and bought just $0.3bn from the UK in 2015.   Giving a deficit of -$46.1 billion.

But is the rest of Europe really helping the UK?  Do other European nations buy from the UK?

Top 10 trade Surpluses i.e. countries that buy more from us:

• Switzerland: $22.5 billion
• United States: $9.1 billion
• United Arab Emirates: $8.8 billion
• Hong Kong: $6.7 billion
• Ireland: $6.4 billion
• Saudi Arabia: $4.3 billion
• Singapore: $4 billion
• Australia: $2.6 billion
• Azerbaijan: $865.2 million
• Macedonia: $762.5 million

Only one European nation is in the top 10 list that bought more from UK than we sold them in 2015 and that’s Ireland!

Conclusion

Money flows out of the UK making other countries wealthier not just to fund the European union machine in Belguim/Strasbourg but also in our trade.  The UK trades outside Europe to make money.  If this position continues the £ can only get weaker and weaker as we 'print' more money to fund defecits