Image Credit: shortpedia

UK could lose $16 bn on EU exports in case of no-deal Brexit: UN

R Sinduja

News Editor

Britain may lose at least $16 billion annually on exports to the European Union if it leaves without a deal. The UNCTAD economists warned that in reality, the losses would be much greater because of non-tariff measures, border controls and disruption of existing UK-EU production networks. They also said the nearing Brexit deadline, along with increased uncertainty on outcomes, is problematic for UK exporters.