What is the estimated economic activity generated by the single market?

The estimated economic activity generated by the single market is approximately £10 trillion. This figure reflects the substantial economic benefits that come from reduced trade barriers, increased competitiveness, and enhanced cross-border investment within the European single market. The single market allows for the free movement of goods, services, capital, and people, creating a more integrated economy that leads to increased trade efficiency and economic growth.

The other figures presented do not align with the commonly accepted estimates of economic activity produced by the single market. They either overstate the estimated benefits or suggest a level of economic integration and output that has not been documented in existing analyses. Therefore, £10 trillion represents a realistic understanding of the enormous economic impact that such a unified market can generate across the member countries.