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Essay / Research Paper Abstract
This 3 page paper looks at the trade structure and patterns of the UK, identifying major tends and influential trading partners and the important industries in terms of exports. The bibliography cites 5 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEukecostr.rtf
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Unformatted sample text from the term paper:
exports totalling US$448,291 million measured as FOB (free on board) in 2006 there has been an overall increase in the level, increasing by 17% in 2006 compared to 2005
and a increase in 11% between 2005 and 2004 (WTO, 2007). However, it is worth noting that there is a trade deficit with the UK importing more than it exported,
when measured as CIF was US$619,385 in 2006, an increase of 21% on 2005 and making up 4.99% of the world imports (WTO, 2007). Over the past few decades
there has been an increasing level of reliance on the European Union for both imports and exports (Van Marrewijk, 2002). With the European increasing in size, now consisting of
25 countries, and further plans to expand it is likely that the reliance on this area will be shown as an increasing proportion of trade. This is due to the
increasing size of the European Union as well is increasing proportions of trade taking place within it. In 2006 the majority of
the of the exports were going to members of the European Union. 61.8% of exports went to this destination, making it the most important single market (WTO, 2007). The
prominence of this is due to the free trade area and the development of trading links within the area. The second most prominent export partners United States, taking 13.2% of
all exports (WTO, 2007). Switzerland Japan and Canada took 1.8%,1.7% and 1.5% of exports respectively (WTO, 2007). The reliance on import partners is slightly more diversified, but the high
influence of the European Union is still very apparent within the trade patterns a reliance hwre is also increasing (Economist Intelligence Unit, 2002). This dominance is a did not only
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