There’s a difference between what seamless trade with the EU is supposed to achieve in theory and what it's actually achieved in practice. Thanks to historical trade data published by the UK Office for National Statistics (ONS), we now know the difference is huge. By making multiple comparisons in UK, EU and non-EU trade since 1998, it’s possible to judge the UK's record inside Customs Union and Single Market over the past 20 years, and assess the real value of seamless, tariff-free trade with t...
The EU Single Market stopped being an asset for UK goods exporters a decade ago. Today, UK exports of goods to EU have stalled, imports are surging, and services don’t cover the deficit. The UK's global trade is far healthier — and for good reason.
UK goods exports to EU stalled in 2008
Exports to countries outside the EU are growing quickly
The £85 billion deficit in goods trade with EU worsens by £10 bn every year
The US does a better trade with EU than UK — and th...