View Single Post
  #1126  
Old 04.06.2016, 16:39
baboon's Avatar
baboon baboon is offline
Forum Legend
 
Join Date: Apr 2007
Location: Rheintal
Posts: 4,332
Groaned at 163 Times in 142 Posts
Thanked 7,504 Times in 3,440 Posts
baboon has a reputation beyond reputebaboon has a reputation beyond reputebaboon has a reputation beyond reputebaboon has a reputation beyond reputebaboon has a reputation beyond reputebaboon has a reputation beyond repute
Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

Quote:
View Post
Lets get this right 16% of the total of 28 Countries is huge v 47% of 1 country.
The EU will be far worse effected amazed you can't see that.
Now you surprise me as you usually have a decent grasp of some subjects. However I assume statistics are not your strong point.

Right, lets put it another way and see if you can understand it.

Exports represent almost 29% of the UK economy. So roughly 14% of UK GDP is directly dependent on exports to the rest of the EU (indirectly a factor higher than even that of course).

For the EU, external exports represent about 18% of GDP. Adjusting for the UK figures (not included in the 18% on either side), you can work out that exports to the UK account for something like 3% of the EU economy. Plus a decent slice of that is food, something the UK has no choice but to import.

Take 3% out of the EU GDP and you have a nasty recession. Take 14% out of the UK GDP and you have a real crash.
__________________
You live and learn. At any rate, you live.
Reply With Quote
This user would like to thank baboon for this useful post: