Outline I Top trade partners II Trade with Europe III Britain’s special relationship with the US IV Trade with Commonwealth countries V Trade with BRICs and the special relationship with India

I Top trade partners Below is a list showcasing 15 of United Kingdom’s top trading partners in terms of export sales in dollar value during 2017. United States: US$58.4 billion (13.1% of total UK exports) Germany: $46.6 billion (10.5%) France: $32.8 billion (7.4%) Netherlands: $27.6 billion (6.2%) Ireland: $25.2 billion (5.7%) China: $21.2 billion (4.8%) Switzerland: $20.1 billion (4.5%) Belgium: $17.7 billion (4%) Italy: $13.2 billion (3%) Spain: $13.2 billion (3%) Turkey: $9.6 billion (2.2%) United Arab Emirates: $9.5 billion (2.1%) Hong Kong: $9.3 billion (2.1%) South Korea: $7.5 billion (1.7%) Japan: $7.3 billion (1.6%)

UK’s Import and Export Indicators and Statistics at a Glance (2017) http://wits.worldbank.org/CountrySnapshot/en/GBR Total value of exports: $466 billion Primary exports - commodities: manufactured goods, fuels, chemicals; food, beverages, tobacco Primary exports partners: USA (15%)Germany (10%), Switzerland (7%), China (5.9%), France (5.8%) Total value of imports: $630 billion Primary imports - commodities: manufactured goods, machinery, fuels; foodstuffs Primary imports partners: USA (15%), Germany (10%), China (9.2%), Netherlands (7.5 percent), France (6.1 percent). Changes since 2012 : Export partners : USA as export partner rose from 10% to 15%. Place of China as export partner rose while France declined (7.4% in 2012) Import partners : USA doubled. China : 1% increase. Germany : 2% decline.

In 2016 Uk exports to the EU accounted for 43. 9% of total UK exports In 2016 Uk exports to the EU accounted for 43.9% of total UK exports. Goods and services imports from the EU accounted for 53.4% of total imports. The UK had a trade deficit of 71 billion pounds with the EU but a surplus of 34 billion pounds with non EU countries. The share of UK exports going to the EU has declined gradually over recent years. In 2006 the EU accounted for 54% of UK exports. These figures take no account of the Rotterdam effect – the argument that trade with the EU is overstated as some trade recorded with the Netherlands may ultimately be with non-EU countries. The scale of this effect is not known.

II 1945-1973 International Affairs and Trade Relations Winston Churchill’s 3 circles of influence. Zurich Speech 1946. Turning to Europe

II Trade with Europe 44% of exports (over 50% before 2008) Main export partner is Germany. Ex : the car industry. Siemens’ turbines. worrying impact of BREXIT

III Britain’s special relationship with the US Cultural and economic reasons. Each other’s largest foreign investors in many sectors. UK is seeking free trade deal with the US.

IV Trade with Commonwealth countries 1960-80 : shift away from Commonwealth countries. Since 2001 : growing trade. Main partners : Australia, Canada, India, Singapore and South Africa. FTAs with Commonwealth countries after BREXIT?

V Trade with BRICs. The case of India. Only 8% British exports to BRICS The special relationship with India Cultural and historic affinities Disappointing trade in goods. Strong FDI. FTA considered in life sciences, IT, food and drink.

The case of China China : ranks sixth as the place for UK’s exports. Disappointing trade in goods, but substantial progress since 2012. Barriers to trade in services Chinese investment in nuclear 2017. Hamleys 2015.