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Original poster

What does Britain actually export?

103 replies

allegretto · 27/06/2016 11:17

I thought that our main revenue came now from service industries/the financial sector these days. As these (especially the latter) are going to be severely cut back when we are not in the EU. What actually is our trade going to be?

OP posts:

Dacc · 27/06/2016 15:49

I like how you've picked up on my stupid flippant comment but ignored everyone showing just how wrong you are about the reality of the economic situation Dacc

I'm wrong saying that we're 6th instead of 5th, not much else.

sorenofthejnaii · 27/06/2016 15:50

What people have to understand is that there are more important things than capitalism

True. But we do need money to go to the public purse so we can pay for things like the NHS. Having less money coming in does make it a bit harder to pay the extra £350 million couple of pounds out of limited funds.

PattyPenguin · 27/06/2016 15:51

Our company manufacturers and exports throughout the world and we know many other small companies that do.
Big industry has somewhat disappeared but there are lots of micro SME's out there trading away week in and week out.

I'm sure that's true, but as these are micro SME's, surely the amount they export each year, in monetary terms, and the number of people they employ in total, must be relatively small in comparison with the entire UK economy.

Also, how is not being in the EU going to impact on them?

ofshoes · 27/06/2016 15:51

I'm wrong saying that we're 6th instead of 5th, not much else

You didn't look at any of the links about the banks suspending trading or anything then? Maybe if we all stick our heads in the sand it'll be ok sure! That seems to be the plan of the Leave camp anyway.

sorenofthejnaii · 27/06/2016 15:51

Which is fantastic news for uk export business

But a crap for people who import stuff as our imports will cost more.

How will this affect fuel prices? Increased fuel prices will increase the cost to food production, distribution and will increase those prices.

BlackeyedSusan · 27/06/2016 15:52

london black taxis. they are no longer british though. they were taken over by a chinese company a few years ago. they still manufacture here though, in the midlands somewhere.

BlackeyedSusan · 27/06/2016 15:53

the pound has fallen. if this is against the dollar the cost of oil and oil products will rise here as oil is priced in dollars. all things relying on fuel will cost more, including food, (transport/farming) etc.

fabulous.

Madbengalmum · 27/06/2016 15:54

Those saying we export fuck all, know very little, and should speak to those who do business exporting to europe and the rest of the world.
I am very sure my friends at the British Manufacturing Association would be thrilled to hear your thoughtless comments.

BikeRunSki · 27/06/2016 15:54

Textiles, particular woven wool. Huddersfield cloth is extremely well respected globally!

Dacc · 27/06/2016 15:55

You didn't look at any of the links about the banks suspending trading or anything then

Yes, but that happens when a company falls 8% below it's daily starting price. Given the size of the share value, it wasn't that unexpected.

The FT link is a paywall.

Letmesleepalready · 27/06/2016 15:55

I'm more worried about all the imports we need for basic stuff - I read that the UK only produces 60% (approximately) of the food needed and France provides us with a percentage of the electricity we need. Not quite sure how that'll affect prices for necessities.

Madbengalmum · 27/06/2016 15:55

Sorenofthe, well yes, however it has been crap for exports for the last umpteen years, so what are you saying?

Dacc · 27/06/2016 15:57

Britain is still 5th in the world, apart from 15 minutes this morning.

www.cityam.com/244103/eu-referendum-no-uk-economy-isnt-now-smaller-than

LurkingHusband · 27/06/2016 15:57

Interesting link, Christmasmum - and especially revealing that our largest EU trading partners all export far more to us than we buy from them So does anyone still think they'll turn their backs on us, and risk all those jobs in their own countries??

That depends if we can afford what they make ...

ChaChaChaCh4nges · 27/06/2016 15:58

How will this affect fuel prices? Increased fuel prices will increase the cost to food production, distribution and will increase those prices

Up 2-3p per litre by the end of the week. According to the BBC website here.

ofshoes · 27/06/2016 15:59

Yes, but that happens when a company falls 8% below it's daily starting price

Yeah, I'm sure it'll all come out in the wash eh? Let's hope sooner than later though, I'm sure there are some stiff upper lips starting to get a bit sore.

sorenofthejnaii · 27/06/2016 16:00

A falling pound is good for some and crap for others. Economics 101

I don't seem to remember the effect of a falling pound being mentioned in the debates and the ramifications on inflation. It was mentioned that food prices would increase but that was dismissed.

Maybe it should have been spelt out more clearly - related to the price of oil, fuel costs, effect on imports, food costs and the fundamentals.

Dacc · 27/06/2016 16:00

I'm more worried about all the imports we need for basic stuff - I read that the UK only produces 60% (approximately) of the food needed

Do you think that people will stop selling food to us?

Europe needs us as much as we need them.

Dacc · 27/06/2016 16:01

Yeah, I'm sure it'll all come out in the wash eh

Which ever way you want to pout........I wasn't wrong about anything.

sorenofthejnaii · 27/06/2016 16:02

Sorenofthe, well yes, however it has been crap for exports for the last umpteen years, so what are you saying

What is more important to people? A lower pound so it's good for exports and companies that export or a higher pound so we can import goods we need more cheaply?

That seems like a massive question.

ofshoes · 27/06/2016 16:02

From your own link dacc

"But, fresh currency volatility this morning has knocked the UK down to sixth place once again. The same is true when you convert the size of the economy into the global benchmark - the US dollar - though the exchange rates are hovering around levels that mean the fact keeps changing between being true and false."

The very next paragraph after the one where you thought you'd found a valid argument.

sorenofthejnaii · 27/06/2016 16:02

Do you think that people will stop selling food to us

They will - but it's going to be more expensive.

LurkingHusband · 27/06/2016 16:02

A falling pound is good for some and crap for others. Economics 101

I rather lost interest in what economists had to say pre 2008, when manufacturers pleaded for interest rates to come down, to be told (rather patronisingly)

"Oh, we can't possibly have one interest rate for exports, and another for mortgages"

(Looks at what we are paying on our mortgage)

Seems you can, if the alternative is for banks to lose out.

Madbengalmum · 27/06/2016 16:02

The laws of demand and supply havent gone away.
There will always be countries who want to buy and sell from us/to us.

sorenofthejnaii · 27/06/2016 16:04

There will always be countries who want to buy and sell from us/to us

Yes - but we are in a global market and it will cost us more to buy goods.

Is that a good thing or is the increased cost worth the benefits of leaving the EU?

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