The report shows for the first time the detail of the traffic flows managed by Eurotunnel between the UK and its 5 principal European partners (Germany, France, the Netherlands, Spain and Ireland).
The total amount of trade passing through the Tunnel each year has increased to almost €140 billion, with imports and exports being almost equal. This represents hundreds of thousands of jobs on both sides of the Channel and this value has increased significantly over the last two years.
In addition, millions of passengers also use the Tunnel, both with their cars and by train.
The detailed analysis of the different sectoral flows shows that it is the speed and ease of passage from one side of the Channel to the other that is most important for both industry and consumers.
Jacques Gounon, Chairman and Chief Executive Officer of Getlink, stated:“The Channel Tunnel is more than just a vital link between Great Britain and continental Europe, it is a physical connection, a vector for development and a creator of value. Maintaining this dynamic must remain a priority for the whole of Europe, to the benefit of all its people”.
Professor L Alan Winters, Director of the UK Trade Policy Observatory, and Professor of Economics at the University of Sussex commented:“I believe that the report offers a very solid basis for understanding the contribution of the Channel Tunnel to the economies of Europe on both sides of the English Channel.”
Peter Arnold, Partner, Economic Advisory at EY said:“Brexit may well represent a significant change in the economic and political relationship between the UK and the EU, but the Channel Tunnel will retain a critical role as a facilitator of economic and cultural links between the two. Sustaining current traffic flows will ensure the growth achieved to date continues.”
The report has been formally launched at a workshop in Brussels this afternoon with European Parliamentarians and policymakers.
Download the report
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