A new report shows that Sunderland is in the top 10 cities in the country to be reliant on the European Union for exports. It is also one of only seven which are heavily reliant on a specific industry for the majority of exports – in this case, the car industry.
Sunderland sold 59% of its exports to the EU in 2014; Newcastle sold 54% of its overall exports to the EU.
The report ‘Cities Outlook for 2017’, published by the think tank Centre for Cities, shows the EU is the biggest export market for 61 of Britain’s 62 cities.
Every British city sells more of its exports in the EU than anywhere else across the globe. The report also shows that British cities would have to increase exports to other international markets to compensate for the downturn in exports to the EU.
For example, to make up for a 10% decrease in exports to the EU, British cities would have to nearly double exports to China or increase exports to the US by nearly a third.
Editor’s note – strictly speaking the term ‘exports’ does not apply to intra-EU Trade as there are no Customs barriers within the EU, but the term is used almost universally.