The EU has been portrayed as an economic issue by British politicians ever since its conception. In fact its a political union and was always going to lead to a United States of Europe but that would be electoral suicide in this country for a PM to highlight.
But we're already in a political union with Europe. Having gone this far, our best advantage will be to manoeuvre for the best position we can. Whoever has most political power in a union of states will automatically gain most financially.
We are already behind the competition, having let old adversary Germany take prime position, so the least risky proposition now would be to embed ourselves 100% within the EU. Possibly even dispose of the pound in order to try for control of the Euro. There is a huge prize available here, but not if you're not in the game.
The UK is far from the biggest economy in Europe. What do you mean by vie for control of the euro? How exactly? With your 15% of the EU economy? Even if the UK had the highest GDP in Europe, it still would not be the most powerful. France and Germany are bigger economies. In addition to that, the UK may be the third biggest economy in Europe, but it does not provide necessary services to the rest of Europe. It is more mercantilist like the US. Germany exports a great deal of things in many necessary sectors.
Germany is also considered the 3rd most complex economy in the world.
The United Kingdom is the 11th most complex economy in the world. Germany has made itself indispensible to the European economy. If you do not export hardly anything, how can you ever be at the big boy table?
The values in red are important because they show how productive the country is. What values do you bring to the table?
The values in royal blue represent the biggest subsector in each supersector.
Germany - Trade surplus $271 billion
Exports -
36% of the economy
$1.4 trillion in exports
27% machines (
Computers 0.93%, circuits, engine parts 1.1%)
23% transportation (
Cars 12%, car parts)
13% chemical products (
Packaged medicaments 3.7%)
Imports
$1.13 trillion in imports
machines (
Cars 4.2%)
transportation (
Computers 2.4%)
chemical products (
Crude petroleum 4.7%)
United Kingdom - Trade deficit $191 billion
Exports -
24.5% of the economy
$462 billion in exports (33% of Germany's exports)
20% machines (
Gas turbines)
15% transportation (
Cars)
14% chemical products (
Packaged medicaments 4.2%)
Imports - $664 billion in exports
21% machines (
Computers 2.5%)
15% transportation (
Cars 7.2%)
13% mineral products (
Crude oil 5.1%)
10% chemical products (
Packaged medicaments 4.3%)
France
Exports - $571 billion (more than the UK)
Netherlands
Exports - $525 billion (more than the UK)
Italy
Exports - $509 billion (more than the UK)
Switzerland
Exports - $285 billion (2nd most complex in the world)
Trade surplus
Sweden
Exports - $169 billion (4th most complex in the world)
Trade surplus
Norway
Exports - $149 billion
Huge trade surplus (Make 65% more than they spend)
Denmark
Exports - $99 billion
Trade neutral