Envisaged for years and effective in 2020, the separation between Europe and the United Kingdom has severe impacts on the global economy. What do we know about this break-up, and what are the repercussions on the economy? Elements of the answer in the rest of this article, so you must read it carefully for being informed.
What you need to know about Brexit
Geopolitically, Great Britain and Northern Ireland from the United Kingdom. This bloc has been engaged for several years in a long process of separation on economic, commercial, administrative…lev¬els with the European Union. A total of six sessions have marked the negotiations between the two parties, the agreement between the European Union and the United Kingdom of which will be ratified this month. All sectors were affected by the Brexit. The Covid-19 pandemic, which occurred at the end of 2019, amplified the impact on the global economy, particularly on the UK’s trading partners. So what should we retain from these?
The impacts on the global economy
Following the post-Brexit transition, trade between the UK and European nations is almost at a standstill. According to forecasts, trade will fall by 41% speaking of those from the Kingdom to Europe. Not to mention British purchases of European products. After this rupture (the Brexit) the UK loses 4 billion 600 million euros. Like other nations, Holland is one of the UK’s valued trading partners, will experience a loss of GDP by the year 2030 of between 1.25% and 4.25%. Australia’s major companies have seen their revenues impacted by the delay of Brexit. Sales of pizza and grapes (juice) in the UK and the EU respectively are experiencing a drop in revenue. 20 million is lost over a 4 year period by shipping companies.