Interesting number

The scale of Chinese imports into the UK.

But Britain has an insatiable appetite for Chinese imports, worth more than £15 billion in 2006, and China\’s importance as an investor in the UK is growing.

We\’ve got a (very roughly) £1.5 trillion economy. Total imports seem to be about £250 billion. Chinese imports are thus 1% of the economy, or perhaps 6% of all imports.

I\’m surprised at how small that is. Has Ruth Lea actually got that number correct? For 1% doesn\’t indicate to me an "insatiable appetite".

It\’s also not the sort of unstoppable juggernaught that would have all that much effect on the domestic economy either.

2 thoughts on “Interesting number”

  1. Per the IMF, UK imports in 2006 equalled 546bn USD. UK imports from China (mainland & HK) equalled 42bn USD.

    7.79% of all UK imports came from toto China in 2006? A nice sized appetiser but as you point out, insatiable?

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