No-deal Brexit: The Trade Winners and Losers

April 9, 2019//-New research by UNCTAD points to the potential impact of a no-deal Brexit on the UK’s trading partners, including developing nations.
A no-deal Brexit could damage smaller economies trading with the United Kingdom (UK), hit European Union (EU) exports hard, but bring substantial gains for China.

New UNCTAD research (https://unctad.us6.list-manage.com/track/click?u=3592d5dcafd1b9278dd78095f&id=0d4ee034b6&e=8612cefb56)  shows the UK and its future trading partners need to expedite bilateral deals if they are to avoid the costs of exiting the EU without a deal.

These costs are considerable, the research found, with the EU standing to lose out on $34.5 billion in exports to the UK.

The second-biggest loser in the event of the UK’s no-deal departure from the EU would be Turkey, taking a  $2.4 billion export hit.

China, meanwhile, could gain an additional $10.2 billion in exports to the UK, with the second-ranked United States standing to add $5.3 billion through its exports to the UK.

“Brexit is not only a regional affair. Once the UK has left its 27 European Union partners behind, it will alter the ability of non-EU countries to export to the UK market,” said UNCTAD’s director of international trade and commodities, Pamela Coke-Hamilton.

African Eye Report