September 3, 2019 / 3:26 PM / 19 days ago

"No deal" Brexit would cost at least $16 bln in UK exports losses - U.N.

GENEVA, Sept 3 (Reuters) - Leaving the European Union without a trade deal would cost Britain at least $16 billion in lost exports, and would probably cost far more after indirect effects are taken into account, a report by the U.N. trade agency UNCTAD said on Tuesday.

“UNCTAD’s research indicates that a no-deal Brexit will result in UK export losses of at least $16 billion, representing an approximate 7% loss of overall UK exports to the EU,” it said.

“These losses would be much greater because of non-tariff measures, border controls and consequent disruption of existing UK-EU production networks,” it said. (Reporting by Tom Miles Editing by Edmund Blair)

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