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EU Economics

MAPPED: EU countries set to lose the most from Brexit showing why they should BACK Britain

BRITAIN has found no shortage of Brexit enemies since voting to quit the European Union (EU) last year but it is becoming increasingly clear member states should support the UK – for their own good.

Brexit news: The EU will suffer if it attempts to punish Britain


Countries across the bloc export billions of pounds worth of products to Britain, with the  making more from the UK than vice-versa.According to figures released by the Office of National Statistics (ONS) earlier this year, the UK exports £230billion to the EU – but receives £290bn of imports in return.

And while the EU makes up the majority of UK imports, Britain already has a thriving series of relationship outside the bloc, where it sends the majority of its exports.

In the case of a hard , in which trade deals with EU states are cut, it can be argued it is member states rather than Britain who will suffer most.

BrexitEXPRESS

MAPPED: The countries which will suffer most from brexit


The ONS figures also revealed which countries in particular will pay the price for attempting to punish the UK for Brexit.Germany tops the list, with Angela Merkel’s country exporting goods worth £70.4bn to Britain. In exchange Britain sends just £48.5bn to Germany.

Next up is the Netherlands, where £36.9bn is sold to Britain and just £31.8bn in the opposite direction.

France is third on the list, with Emmanuel Macron’s nation sending £36.6bn to Britain, with £32.9 billion sold across the Channel.

BrexitGETTY

Britain will need to renegotiate trade deals with EU states after Brexit


Spain, Italy and Belgium all export more than £20bn each to Britain – but again Britain exports far less in return.Ireland is the one exception to the top-10 list. Britain currently makes more money sending £25.68bn worth of products across the Irish Sea, with Ireland making just £18.68 billion from the British market.

A breakdown on the trade relationship between the two neighbours would therefore hurt Britain more than Ireland – although in truth both countries would suffer.

The final countries in the line-up of those states who should push for a fair deal for Britain are Poland, Sweden and the Czech Republic, who all send at least £5.5bn worth of trade to the UK. Again, Britain relies less on these three states in return.In a report ONS said: “As the UK starts the process to remake its political and economic relationship with the European Union, the future trade relationships we will have with the EU and the rest of the world are a key talking point.

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The UK Government has signalled it is looking to build new partnerships with countries like India, the United States, Australia and New Zealand

ONS

“As a soon-to-be ex-member of the European Union, the UK will have to renegotiate its trade relationship with the remaining 27 partner countries, as well as with the entire world, as it no longer relies on the trading arrangements afforded by membership of the EU.“In the months since the June 23 referendum last year the UK Government has signalled it is looking to build new partnerships with countries like India, the United States, Australia and New Zealand.”

https://www.express.co.uk/news/uk/864163/brexit-latest-news-trade-deals-eu-countries-european-union-uk

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