Declining EU is overrated as a trading power

Email this

Pro-EU groups like British Influence always emphasise the importance of EU trade to Britain’s economy as a reason why we should not even be thinking of heading to the exit door. What they seem to miss out is the fact our exports to the EU are on a downward trajectory.

Recent Office of National Statistics (ONS) trade figures reveal our exports to non-EU countries have been higher than exports to the EU-27 since September 2014.

This is just part of a long-term trend. Trade is flourishing between Britain and countries far beyond the comfortable shores of Europe. Between 2003-2013 trade with China, a rising economic superpower, increased nearly fivefold, but our exports to the EU only increased by 47 percent in the same decade.

This exposes the lie which the EU is built on — that we must have a political union to ensure commerce flows between nations. Yet our trade with China, South Korea, and the United States is booming, and we didn’t need ‘ever closer union’ to encourage this. Global markets are crying out for our exports.

The ONS figures show our trade surplus with the US was at a record high of £4.0 billion, in the three months leading to May 2015. In the same period, our exports to the US have increased by £1.4 billion. Our trade with the EU fell by £1.2 billion.

These figures show that despite what we are being told by the mainstream media, and a political establishment intoxicated by visions of a federal Europe, the EU is not the future. It is the past.

The EU has outlived its original purpose — to promote free trade. Britain will be better served managing trade through the World Trade Organisation. The EU wants to be a federal state, and is building up its ability to coerce other nations to do its bidding.

Recent events in Greece illustrate this point.

If the EU cannot increase trade in Europe, what is it for? If Brussels seeks only to impose political union, monetary union, and a dated customs union, the case to Get Britain Out is indisputable.

This article was cross-posted in The Commentator.

Email this
%d bloggers like this: