Social Sciences
5 years ago

Brexit to devastate world's poorest countries, costing them up to 1% of GDP

How Brexit affects Least Developed Countries
Zoryana Olekseyuk, Israel Osorio Rodarte

Paper Summary

Brexit will impact Least Developed Countries (LDCs) as the UK leaves the EU. LDCs will lose trade preferences, leading to potential GDP decreases of -0.01% to -1.08%. This affects countries that rely on exporting goods like apparel, textiles, and sugar to the UK. The UK's exit from the EU means renegotiating trade agreements, which could harm vulnerable developing nations.

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