EU

Downturn in EU exports will require UK businesses to dramatically increase trade with other international markets

A study published last week by the Centre for Cities showed that 61 out of the UK’s 62 cities rely on the EU as their biggest export market.

The report, which can be viewed in full here, breaks down exports by city to assess the potential impact of Brexit on the UK economy. The stark conclusion is that a strong trade deal when leaving the EU will be vital for the UK’s economy, with all but one of the UK’s 62 cities selling more to the EU than anywhere else.

Two thirds of UK cities send more than half their exports to the EU, with Exeter (70% of total exports sent to EU), Plymouth (68%) and Bristol (66%) most reliant on European trade.

While manufacturers will be doing all they can to urge the government to secure a strong trade deal with the EU, searching for opportunities elsewhere may also help compensate for any loss in trade.

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