Expected effects of the Brexit on Basque companies

Abstract

As it looks for now, at the time of writing in summer of 2019, the UK will most probably leave the EU. This Project’s main goal is to study existing trade relations between the Autonomous Community of the Basque Country (ACBC) and the United Kingdom (UK) and their origin, and roughly estimate what tariffs Basque companies trading with a UK that left the community must expect. Another important objective is to study economic and political reasons for UK’s special role in the European Community since becoming a member, including a theoretical approach to economic integration and the evolution of the EU. My analysis has shown that the UK is an important trade partner for the ACBC, being found among the top five partner countries in exports and imports during most of the recent years. Different sectors will be affected very differently by tariffs. Further I have found out that any kind of Brexit will economically harm not only the UK but also every single remaining EU member state. Ireland will be most affected, even more than the UK.