Myth: EU needs us more than we need it
InFact: Eurosceptics are fond of pointing out that we have a big trade deficit with the EU – £62 billion in 2014. Other member states would, they say, lose more if our trading relationship broke down. In fact, we’d be the desperate ones. Our exports to the EU make up 13% of our GDP, but the EU’s exports to Britain represent just 3% of its GDP.
This article is an adaptation of a piece that previously appeared on InFacts.
Hugo Dixon is the author of The In/Out Question: Why Britain should stay in the EU and fight to make it better. Available here for £5 (paperback), £2.50 (e-book)
Edited by Hugo Dixon