I find this astonishing. Is it right?https://twitter.com/emmatimes2/status/913651278315737089 …
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Replying to @DanNeidle
I wish he'd explained how the import statistics work and whether it all nets out, or leaves a mismatch
1 reply 0 retweets 0 likes -
Replying to @CarterPaddy
If only we knew someone with a track record of verifying claims about export statistics. On an unrelated subject, how are you,
@MForstater?2 replies 0 retweets 1 like -
Replying to @DanNeidle @CarterPaddy
Yes it is true gold exports are a large part of the UK's non EU exports (1)pic.twitter.com/VbQJNpEghb
2 replies 0 retweets 1 like -
If you take out gold, the importance EU markets to UK goods trade rises (but there is also a bit of Rotterdam effect in here) (2)pic.twitter.com/iOvKdLn9d0
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Yes it nets out w gold imports over time, but not each month or year
@ONS therefore reports trade w & w/o 'eratics' https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/apr2017 …1 reply 0 retweets 0 likes -
Replying to @MForstater @DanNeidle and
No it doesn't end up in GDP - (
@ons again) https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/articles/nationalaccountsarticles/abriefexplanationofnonmonetarygoldinnationalaccounts … (4)1 reply 0 retweets 0 likes
What it nets out with is a reduction in apparent investment assets (gold being withdrawn from vaults) -- see @FT https://www.ft.com/content/0407854e-f9d0-11e6-9516-2d969e0d3b65?mhq5j=e6 … (5)
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