Social Sciences
3 years ago

Brexit could decrease UK exports to EU by 14%, study finds.

UNCTAD research paper
Brexit Beyond Tariffs: The Role of Non-tariff Measures and the Impact on Developing Countries
Ben Shepherd, Ralf Peters

Paper Summary

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The UK leaving the EU affects trade beyond just tariffs. Non-tariff measures like regulations play a big role. A study shows that EU membership has a significant impact on trade, especially with NTMs. If tariffs and NTM-related trade costs rise, UK exports to the EU could drop by 14%. Even with a free trade agreement, exports could still decrease by 9%. However, exports from developing countries to the UK could increase if UK tariffs for third countries stay the same.