HMRC trade statistics for November 2014 again show the UK as a net importer with the EU. The value of EU sales to the UK (imports) were £18.5 billion, UK sales to the EU (exports) just £12.3b, a net trade gap of £6.2b. This follows the general trend of the ratio of UK with EU sales of about 2:3 in the EU favour. So the tax-free EU single market favours the rest of the EU more than it does the UK.
Tax Barrister, Accountant