05.06.2019 The Manufactured Goods industry would be hit the hardest by a no-deal Brexit – UK Industry Reports now include exclusive Brexit analyses
Hamburg, 05.06.2019 – On 24 May, Theresa May announced that she was stepping down as British Prime Minister after almost two years in office. This step has potentially increased the likelihood of a no-deal Brexit. In view of the current political situation, Statista has now extended all UK Industry Reports to include exclusive Brexit analyses.
It has been almost three years since 52 percent of voters voted for the UK to leave the European Union after David Cameron failed to renegotiate the relationship between the UK and the EU. If all had gone to plan, Brexit should have taken place two years after Article 50 was triggered, i.e. in March this year, but this did not happen.
After three attempts at getting the withdrawal agreement ratified by the House of Commons, failed negotiations with the Labour party, and disagreements within her own party, Theresa May announced her resignation as Prime Minister and Conservative Party leader. This potentially increases the risk of a no-deal Brexit: Many of the candidates touted to succeed May support a no-deal Brexit over remaining in the EU, with former Foreign Secretary Boris Johnson considered the favourite.
A no-deal Brexit would have far-reaching economic consequences for the UK. According to exclusive analyses carried out by Statista, the Manufactured Goods industry would be hit the hardest by a chaotic Brexit: The gross value of the industry would decrease by 12 percent over the next 15 years. The Agriculture & Foods industry would experience a loss of 11 percent, the Financial Services industry would decrease by 9 percent and the Services industry by 8 percent. In case of a no-deal scenario, the highest tariffs are likely to be imposed on Agriculture & Foods – they are expected to amount to almost 20 percent.
The Statista UK Industry Reports
The above-mentioned data and further information on Brexit have now been integrated into the UK Industry Reports. A total of 42 Industry Reports, covering, among other things, the Telecommunications, Insurance and Tourism industry, constitute a high-quality processing of all industry-relevant data and forecasts, including key figures on finances, enterprises, employees and R&D. In addition to more than 40 KPIs, the reports also include tools for strategic planning, such as SWOT analyses.
You can find all UK Industry Reports here.