Thursday, 2 February 2017

Brexit: and Exeter's reliance on EU trade

The cities of the West Country voted to remain:
Futures Forum: Brexit: and the European Green Capital
Futures Forum: Brexit: and Exeter University

Meanwhile, it is still not clear how Brexit will affect the economy of the South West:
Futures Forum: Brexit: and the dropping of public confidence in the job market for the South West
Futures Forum: Brexit: and low-skilled migrant workers: "There are parts of the country where unemployment is really, really low [such as Exeter]. Many of the young unemployed people are on the other side of the country and they are not going to come down to Exeter, and they don't."
Futures Forum: Brexit: and the Devon economy growing - but more slowly

What is clear is that the cities of the West Country rely heavily on doing business with the Continent:

Exeter more reliant on trading with EU than any other city in the country

By Neil_Shaw | Posted: January 30, 2017

Exeter is more reliant on trading with the EU than any other city in the country, according to a new report. Centre for Cities released a report today which reveals that 70 per cent of Exeter's exports are sold to the EU - meaning our city would be hit worse by a bad Brexit deal than anyone else.

That figure is much higher than average, Almost half the exports from UK cities are sold to the EU. That is three times more than to the USA and five times more than to India, Japan, Russia, South America and South Korea combined.

The annual Cities Outlook survey shows that the whole of the South West relies on EU trade more than other regions - with Exeter the most dependent of any city in the country.

The same report also says Exeter is the fastest growing city in the country, with a population increase of 2.4 per cent in the last year. Exeter's main exports are in goods and services such as insurance and pensions, as well as transport equipment.

While across the UK the average is close to 50 per cent of trading done with the EU, in some cities it is as low as 25 per cent.

Alexandra Jones, the chief executive of Centre for Cities, said: "Securing the best possible EU trade deal will be critical for the prosperity of cities across Britain, and should be the Government's top priority as we prepare to leave the single market and potentially the customs union. While it's right to be ambitious about increasing exports to countries such as the US and China, the outcome of EU trade negotiations will have a much bigger impact on places and people up and down the country."

Exeter more reliant on trading with EU than any other city in the country | Exeter Express and Echo
“Greater Exeter” dependent on EU for 70% of its exports | East Devon Watch

Or, as the East Devon Watch blog notes:


30 JAN 2017

Perhaps partnering with Somerset, with its massive reliance on Hinkley C is not such a good idea.

“Forging a trade deal with the European Union must be Britain’s top priority in negotiations, because the bloc is the largest export market for 61 of 62 of the nation’s cities, a think-tank has said. …

…”The West of England is disproportionately reliant on exports to the EU, with the great majority of total exports from cities in the region destined for the bloc. Out of all cities in the UK, the top three cities in terms of their dependence on EU exports are Exeter (70%), Plymouth (68%) and Bristol (66%).

The least dependent city in the UK is Derby, which still sends almost half (48%) of its exports to the EU, followed by Hull (29%).”

EU-dependent cities need trade deal after Brexit, Centre for Cities says | Public Finance

Another problem for our Local Enterprise Partnership? | East Devon Watch

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