Why the UK needs that BREXIT deal (Part 4)

  • Trade contributes 63.5% to the total GDP of the United Kingdom.
  • The European Union is the single largest trade partner of the United Kingdom and with 49.1% is (almost) larger than all other trade partners combined.
  • This means that the European Union contributes to no less than 31.2% of the total GDP of the United Kingdom.
  • Exports contribute 31.1% to the total GDP of the United Kingdom.
  • Exports by the United Kingdom are based on 42.3% imports of parts, goods and services from the European Union.
  • This means that the European Union contributes to no less than 13.2% of the total GDP from exports by the United Kingdom.
  • WTO sets rules and rulings for governments, not companies.
  • WTO hardly covers services, which is a significant contributor to the British economy and the trade volume with the European Union.
  • WTO can not enforce passporting for non-EU members, on which a fast majority of the British services industry depends for doing business within the European Union.

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