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EU: Economic Impact

Volume 696: debated on Wednesday 5 December 2007

asked Her Majesty's Government:

Whether the statement by the Chief Secretary to the Treasury, Mr Andy Burnham, on 19 November (Official Report, col. 981) that the European Union accounts for 58 per cent of our economy is based on official figures. [HL640]

As the Chief Secretary to the Treasury explained (Official Report, col. 981) the EU is the UK's largest trading partner. The 57 per cent figure that he cited refers to Table 9.3 (Trade in goods and services) of the 2007 edition of the Office of National Statistics Pink Book, which indicates that in 2006 UK import trade with its European Union partners equated to 57.3 per cent of total UK imports. Export trade with our European Union partners amounted to 55.5 per cent of total exports.