Their Cities Outlook 2017 report also reveals that 46% of UK exports go to the EU market, three times more than the US, and five times more than India, Japan, Russia, South America and South Korea combined.
This underlines the importance of securing the best possible EU trade deal according to the think tank, with British cities potentially having to drastically increase trade with international markets to compensate for any downturns in exports to Europe.
“Securing the best possible EU trade deal will be critical for the prosperity of cities across Britain, and should be the government’s top priority as we prepare to leave the single market and potentially the customs union," Centre for Cities chief executive, Alexandra Jones, said.
“While it’s right to be ambitious about increasing exports to countries such as the US and China, the outcome of EU trade negotiations will have a much bigger impact on places and people up and down the country.
“It’s also important that the government aims to reach trade agreements covering as many sectors as possible, rather than prioritising deals for high-profile industries based in a small number of places.”
The top 10 UK cities most reliant on the EU market (2014) are: