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Challenges For Eu-Uk Trade Relationship In 21st Century

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  • Irena Nikolova

Abstract

One of the significant and sensitive issues in the economic area affected by Brexit is foreign trade. In fact, the import and export shares in UK trade with the EU Member States exceed fifty percent of the overall bilateral trade and it has a significant impact over their economies. However, Brexit happened and the new trade relationship between the UK and the EU is on a different basis. The paper examines the overall EU-UK trade relationship in the recent twenty years. Based on the statistical data the trends are reviewed and analysed. The purpose of the paper is to present the general trends in trade and the impact of Brexit on the export and import flows of EU and UK. As the present agreement does not cover all the areas of interest, some challenges for the future bilateral trade are presented as well.

Suggested Citation

  • Irena Nikolova, 2021. "Challenges For Eu-Uk Trade Relationship In 21st Century," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 15(1), pages 24-35.
    • Handle: RePEc:isp:journl:v:15:y:2021:i:1:p:24-35
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    References listed on IDEAS

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    1. Dhingra, Swati & Ottaviano, Gianmarco I. P. & Sampson, Thomas & Reenen, John Van, 2016. "The consequences of Brexit for UK trade and living standards," LSE Research Online Documents on Economics 66144, London School of Economics and Political Science, LSE Library.
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    3. Steinberg, Joseph B., 2019. "Brexit and the macroeconomic impact of trade policy uncertainty," Journal of International Economics, Elsevier, vol. 117(C), pages 175-195.
    4. Molinuevo,Martin, 2017. "Brexit : trade governance and legal implications for third countries," Policy Research Working Paper Series 8010, The World Bank.
    5. Crowley, M. A. & Exton, O. & Han, L., 2018. "Renegotiation of Trade Agreements and Firm Exporting Decisions: Evidence from the Impact of Brexit on UK Exports," Cambridge Working Papers in Economics 1839, Faculty of Economics, University of Cambridge.
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    More about this item

    Keywords

    foreign trade; brexit; eu foreign trade; eu-uk trade;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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