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The Beef Hormone dispute

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Cattle are given growth hormones in order to promote faster growth.

In order to protect consumer health and safety, the EU has banned imports of hormone treated meat and only allows restricted imports of meat that is certified as produced without the use of hormones.

This has caused a dispute with the US, known as the Beef Hormone Dispute, that has been ongoing since 1989, and is still on-going. The dispute has resulted in the imposition of tariffs on a number of products exported from EU countries to the US.

Read on for more details about the dispute.

EU Trade with non-EU countries (2015)

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The EU trades with most countries in the world and this is worth a total of 3,513,929 Million Euro (3.5 Trillion), based on figures for 2015.

The following breakdown shows the value of the trade between the EU non-EU countries. It does not include the figures for internal trade between the 28 EU countries.

The top 10 trading partners accounted for 62.96% of the total EU trade.

2 of the top 10 countries that the EU trades with are Norway and Switzerland with a total value of € 376 Billion or 10.7% of the total trade

Total EU Trade Table

Figure 1 – Total EU Trade with non-EU countries (table)

Total EU Trade Chart

Figure 2 – Total Trade with non-EU countries (chart)

Exploring these figures further shows that Imports to the EU from non-EU countries totalled 1,724,867 Million Euro (1.7 Trillion Euro). The top 10 trading partners accounted for 66.23% of the total and goods totalling € 176 Billion Euro, or 10.24% of the total goods imported came from Norway and Switzerland.

EU Imports Table

Figure 3 – Total Imports to the EU from non-EU countries (table)

EU Imports Chart

Figure 4 – Total Imports to the EU from non-EU countries (chart)

Exports from the EU to non-EU countries totalled €1,789,063 Million Euro (€1.8 Trillion Euro). The top 10 trading partners accounted for 66.23% of the total and goods totalling almost €200 Billion Euro, or 11.16% of the total were exported to Norway and Switzerland

EU Exports Table

Figure 5 – Total Exports from the EU to non-EU countries (table)

EU Exports Chart

Figure 6 – Total Exports from the EU to non-EU countries (chart)

Sources:

http://trade.ec.europa.eu/doclib/html/122530.htm

http://europa.eu/pol/pdf/flipbook/en/trade_en.pdf

http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_122530.pdf

Trade

by Politicker 0 Comments

The creation of a single European economic area based on a Common Market was a fundamental objective of the Treaty of Rome.

Today, the EU is the largest economy in the world. It is the worlds biggest exporter of manufactured goods and has the worlds largest single market area of more than 500 million consumers.

The EU is responsible for the trade policy of its member countries and negotiates trade agreements, based on World Trade Organisation rules, on their behalf. This means that no individual member government can negotiate a bilateral trade agreement with a non-EU partner.

UK/EU Trading Feb 2016

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Summary

The UK has strong trading links with countries in the EU. This makes the EU an important market for the UK and also makes the UK an important market for the EU.

I’ve used the latest Overseas Trade Statistics from February 2016 as a snapshot to understand the UKs trading position with the EU. These statistics show that the UK is a net importer of goods from the EU.

In February 2016, the UK exported goods to the EU worth £11.2bn and imported goods from the EU worth £19.4bn .

Overall, in February 2016, trade with Europe accounts for 46% of exports from the UK and 55% of the imports to the UK.

What is also apparent is that UK Trade exports are almost evenly split between the EU (46%) and non-EU countries (54%)

These monthly figures are within the ranges recorded over the last 18 months where the proportion of exports from the UK to the EU has been within the range from 38% to 48% and that of imports from the EU to the UK within the range from 51% to 55%

source: https://www.uktradeinfo.com a website managed by the HM Revenue & Customs (HMRC) Trade Statistics unit

Overseas Trade Statistics

According to recent (provisional) figures from UKTradeInfo , a website managed by HM Revenue & Customs, the value of exports from the UK in February 2016 was £24.1 billion with imports of £35.2 billion resulting in the UK being a net importer of goods to the value of £11.1 billion.

https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/Pages/OTS.aspx

These figures can be split between EU and non-EU countries

non-EU exports £12.9 billion
non-EU imports £15.8 billion

which indicates the UK to be a net importer of goods from non-EU countries with imports exceeding exports by £2.9 billion

EU exports £11.2 billion
EU imports £19.4 billion

which indicates the UK to be a net importer of goods from the EU with imports exceeding exports by £8.2 billion

The figures also show that in February 2016, the proportion of exports to the EU was %46 (54% non-EU), with imports of 55% (45% non-EU).

Other figures from the HM Revenue and Customs web-site indicate that over the last 18 months the proportion of exports to the EU has been within the range from 38% to 48% and that of imports within the range from 51% to 55%

Top 5 Partners trading with the UK (Feb 2016)
Exports from the UK
  1. USA £3.5bn
  2. Germany £2.8bn
  3. France £1.5bn
  4. Netherlands £1.3bn
  5. Republic of Ireland £1.3bn
Imports to the UK
  1. Germany £5.3bn
  2. China £2.9bn
  3. USA £2.9bn
  4. Netherlands £2.9bn
  5. France £2.3bn

A summary of the UK Overseas Trade Statistic (OTS) for Febrary 2016 is available at

https://www.uktradeinfo.com/Statistics/OTS%20Releases/OTS_Release_0216.pdf

There also breakdowns of the actual goods being imported and exported available from the page

https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/Pages/OTS.aspx

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