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Berthold Busch IW-Trends No. 3 22. September 2015 How Closely is the UK Economy Integrated with the European Union?
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How Closely is the UK Economy Integrated with the European Union?
Berthold Busch IW-Trends No. 3 22. September 2015

How Closely is the UK Economy Integrated with the European Union?

IW-Trends

German Economic Institute (IW) German Economic Institute (IW)

The European single market is of prime importance for the British economy. However, since the turn of the millennium, the relative position of the EU for British exports of goods and services has declined. The United Kingdom has a trade deficit with the EU in goods, but a trade surplus in services. While the significance of the United Kingdom for direct investments from the EU member states has increased, Britain itself has invested more and more in non European markets. In cross-border trade in intermediate inputs the UK is relatively closely integrated with the continent not only in finance and business services but also in some manufacturing sectors, such as chemicals and energy. After a so-called Brexit new obstacles to cross-border trade in goods and services could affect these sectors particularly severely.

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How Closely is the UK Economy Integrated with the European Union?
Berthold Busch IW-Trends No. 3 22. September 2015

Berthold Busch: Wie stark ist das Vereinigte Königreich mit der Europäischen Union verflochten?

IW-Trends

German Economic Institute (IW) German Economic Institute (IW)

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Berthold Busch / Björn Kauder / Samina Sultan IW-Report No. 34 12. August 2024

The EU and money: Who pays, who gets?

The German net position fell slightly in 2023 compared to the previous year, from 19.7 billion euros to 17.4 billion euros. However, it is still significantly higher than in the pre-Brexit period.

IW

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