Umunna – Pink Book figures show leaving the Single Market and Customs Union will make Britain poorer

UK goods exports to the EU increased by nearly £12 billion in the year from 2015 to 2016, new figures released today reveal.

The Pink Book, produced by the Office for National Statistics, shows that in 2016 the UK exported £145.47 billion of goods to the EU, up from £133.52 billion in 2015.

The EU now accounts for 48.2% of UK goods exports, up from 46.9% in 2015.

Commenting, Chuka Umunna, leading supporter of Open Britain, said: 

“These figures reinforce just how important the EU is to our economy, and especially to the millions of British people who work in our manufacturing industry.

“Almost half of our trade is done with the world’s biggest market on our doorstep. Any disruption to that trade will damage our economy and put jobs at risk. And it is fantasy to believe that can be replaced with trade deals with smaller markets on the other side of the world that will take years to negotiate.

“Nobody voted in the referendum to make themselves poorer and damage our economy – yet that is exactly what the Government’s decision to leave the Single Market and the Customs Union will do.”

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Notes to editors:

The Pink Book 2017, containing the UK’s balance of payments figures for 2016, is here: https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/unitedkingdombalanceofpaymentsthepinkbook/2017

The Pink Book 2016, containing the same information for 2015, is here: https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/unitedkingdombalanceofpaymentsthepinkbook/2016