Riding of Yorkshire imports more than £150 million from the EU in the services sector
The East Riding is reliant on more than £150 million of imports from the EU in the services sector, new figures reveal.
The Confederation of British Industry said the numbers show the importance of a good Brexit deal with the European Union, which must put services “at the heart” of future trading.
Opposition parties are urging the Government to seek an extension to the current transition period in light of the “catastrophic economic impact” of the coronavirus outbreak.
Data from the Office for National Statistics, published for the first time, shows the East Riding imported services worth £165 million in 2017, excluding travel. This means EU trade made up 46.4% of services, with the rest of the world responsible for the remaining £191 million.
The CBI said services are “essential to our prosperity in towns up and down the country”, though often invisible to our daily life.
Nicole Sykes, the lobby group’s head of UK-EU negotiations, said: “These figures show clearly that trade with the EU, especially in services makes it really important we get a good services deal.”
Though the value of the travel industry for the East Riding is not available, figures show it was the largest type of EU service import to Yorkshire and the Humber, and is worth £2.42 billion.
A Government spokesman said that since 2000, UK imports of services from the rest of the world has increased faster than those from the EU.
He added: “As a new independent trading nation, we will have the opportunity to strike free trade agreements which will be a key driver in levelling up the UK, benefiting every region and nation.”