1/ What is worse those exports to the EU v 3rd countries. Skewed by gold bullion repatriation around nervousness re Brexit. Never our gold but appears in the trade figures as value to 3rd country exports (mostly India, S Africa, Switzerland). Take that out and EU exports c 50%
2/. Then add exports to countries via EU 3rd country trade deals. 62% of our exports.

Now add exports to countries with which the EU has since enetered into trade deals..eg CETA, Japan, Singapore. You get the picture.
3/. Then let’s think about WTO TRADE. In fact many of those pesky, expensive NTB ...barriers to trade under WTO terms have been removed or reduced by a raft of 759 Treaties with 168 Countries around the world. Customs. Mutual recognition. Agriculture. Nuclear. Fish.

4/. It is every bit as bad as it looks. Been posting this out for a LONG time but the penny seems to have only recently dropped.

Cut and Paste? Nope.

Even transition as a 3rd country will require A LOT of work. And willingness from EU & ALL 3rd countries.

Hence the panic.
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