Background on the UK and the European Union

This revision presentation provides background on the debate over possible UK BREXIT - a departure from membership of the EU single market.The EU is the UK’s major trading partner, accounting for 45% of exports and 53% of imports of goods and services in 2014. The EU is also a major source of inward investment into the UK. In 2013, EU countries accounted for £453 billion of the stock of inward Foreign Direct Investment, 46% of the total. Over £4 billion worth of exports are sold by the UK to EU countries each week an in 2014, the UK had a trade deficit of £62 billion with the European Union.