THE ECONOMIC IMPACT OF BREXIT ON SOME SELECTED EUROPEAN UNION COUNTRIES

Abstract

The study investigated the economic impacts of Brexit on some selected European Countries (Belgium, France, Germany, Italy, Netherlands, Spain and Sweden). The European Union (EU) has become a model of integration to other regions of the world owing to the gain and success it has recorded. However, the withdrawal of the UK from the EU presents challenges and opportunities for both the EU and UK. The study was aimed at examining the economic impact of post-Brexit economic relations on some selected European Union countries during the period 2016-2023. Specific objectives included investigating the economic impacts of Brexit on some selected countries in European Union in post-Brexit era. The study found that the decision of the United Kingdom to leave the European Union (EU) has had some significant economic impacts on Belgium, France, Germany, Italy, Netherlands, Spain and Sweden. These impacts have been felt in various aspects of the economies including trade and investment, migration and general economic growth etc. The study recommends the need for these selected European Countries to strengthen economic relations with other non-EU member states to help mitigate the impact of UK withdrawal from EU. This is important owing to the fact that Strengthening economic relations with other countries will help attract more economic opportunities to the selected EU countries.