The Impact of Brexit on International Trade and Investment

Khayala Gasimova

World Economics, 2024, vol. 25, issue 4, 121-146

Abstract: The study examines the historical economic trends of Great Britain, particularly the impact of the two world wars and the changes in trade dynamics before and after joining the European Economic Partnership. Following the Brexit referendum (2016–2019), trade between the UK and the EU increased from £570 billion to £678 billion. The Agreement on Trade and Cooperation led to new trade barriers but also increased exports of certain goods by 10-30%. There has been a notable shift from goods to services in exports to EU countries like France, Germany, and the Netherlands. In 2023, service exports grew significantly, while goods exports saw minimal growth or decline. The investment market experienced a significant drop in capital investments from 2017-2020, followed by a recovery. Business investment growth returned to pre-Brexit levels by 2022-2023, despite initial damage to investment confidence.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:wej:wldecn:938

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