International Journal of Scientific Development and Research - IJSDR
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Issue: July 2021

Volume 6 | Issue 7

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Unique Id: IJSDR2102034
Published In: Volume 6 Issue 2, February-2021
Abstract: Trading is the act of how economic partners work together while exchanging certain items. The European Union is based on the 'Free Trade' proposal, a debate raised by 19th-century Economist David Ricardo who first developed the concept of comparative profit when each country produces what is special regardless of its full profits, thus as a result of globalization, and each country benefits as much as possible. Free trade stimulates the economy of the economy and reduces the formation of oligopolies due to market freedom and the ability to trade in a wider market outside their home environment. Less than 10% of EU trade is in the UK. In fact, UK trade should be less than 4% of the global value. After the entire Brexit process is complete, the UK government will be looking to sign a trade agreement with countries outside the EU including the USA, India, China and Australia. While it remains to be seen whether these countries will retaliate and prioritize accordingly. In these countries, the EU is a huge market. The need for research is to understand whether Brexit has a positive or negative impact on global trade. The importance of the research is, however, that it helps to implement new trade policies that help develop and improve UK trade relations. Subsequent research shows that there is a significant impact on the UK in EU countries and other non-EU countries after the start of the Brexit period. Research has shown that trading has had a significant impact among all other factors as a result of Brexit. The study shows comparisons of UK trade with EU countries and NON-EU before and after Brexit which proves that the UK's decision to withdraw from the EU has a negative impact on the overall Brexit goal. Another section of the study also shows that the UK has a positive impact on non-EU countries.
Cite Article: "BREXITS IMPACT ON EU & NON-EU COUNTRIES", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.6, Issue 2, page no.238 - 241, February-2021, Available :http://www.ijsdr.org/papers/IJSDR2102034.pdf
Downloads: 00025297
Publication Details: Published Paper ID: IJSDR2102034
Registration ID:192932
Published In: Volume 6 Issue 2, February-2021
DOI (Digital Object Identifier):
Page No: 238 - 241
Publisher: IJSDR | www.ijsdr.org
ISSN Number: 2455-2631

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