How a post-Brexit Europe will affect our (Australia) exports

The New Daily Australia ^ | 2 Sep 2019 | Mike Bruce

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..While it was once our most important export customer, the United Kingdom has become somewhat of a bit player

...According to Department of Foreign Affairs and Trade (DFAT) figures from 2018, the UK was Australia’s 13th-largest export partner – just ahead of Thailand and a touch behind Vietnam.

In 2018, the UK took just $5.033 billion worth of Australian goods, while Australia imported $7.24 billion worth of goods from the UK.

And while the UK makes up a significant percentage of trade with Australia compared with the 27 European Union member countries, total trade with those 27 countries outweighs trade with the UK by almost three to one

Will we be better off from a post-Brexit Europe?

“An FTA with the UK would likely boost Australian exports to the UK when compared to the case where there is no FTA post-Brexit,” Professor Melatos said.

“However, exports to the UK might well be lower post-Brexit than currently, even if a FTA is concluded.”

Professor Melatos said exporters currently use the UK as an entree for access to the EU market, but after a no-deal Brexit, it would no longer be possible to use the UK as that conduit for Australian exports to the EU.

Dr di Lieto believes Australia can benefit overall if it can negotiate “preferential trading agreements” with the UK and the EU, but suggested it should prioritise a “preferential partnership” with the EU over any new FTA with the UK.

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Countries are scrambling for leverage in the post-Brexit world.

Mind you - imho, Brexit will happen and the odds are that it will be a no-deal Brexit on October 31.

it will redirect a lot of trade from using the UK as an entry point into some other place as entry point.