Consequences Of Brexit To The UE
The Brexit, or the Britain exit from the European Union, is the legal and political process by which the UK signs its withdrawal from the EU. This was completely fulfilled on 1 january 2021, because the negotiations did not convince the people of the UK to change their decision. One way or another, this divorce has certainly impacted the EU.
Reduction of the size
The separation of the UK makes the EU to lose 13% of its population compared to when they were together. With the UK, the European Union’s population was about five hundred and thirteen millions. But now, the population is reduced to four hundred and forty-seven (447) millions. This systematically induces a reduction of the area. From 4, 475,757 km2 to 4,232,147 km2. The density therefore is also affected by the isolation of the United Kingdom, decreasing from 117 per square kilometer down to 106 per square kilometer. Consequently, the GDP (Gross Domestic Product) of the European Union has known a serious reduction. The market value of the final goods and services has dropped from 15.9 trillions to 13.5 trillions.
After the United Kingdom’s separation from European Union, they systematically became trading partners. The EU becomes the UK’s biggest partner when the UK becomes the EU’s third biggest trading partner after the United States of America and China. And we shouldn't forget that each part each has its own trading regulations and rules that should be respected in the agreement. This may cause restrictions to the European Union members in trading. The UK’s withdrawal would also hit sectors across the European Union like motor vehicles and parts, electronic equipment and processed foods.
Dating from january 1st 2021, the European Union members’ companies operating business with British nations need to change their trademark, borders and copyright policies to comply with the new British procedures and their associated costs.