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<article data-history-node-id="46" data-quickedit-entity-id="node/46" role="article" class="contextual-region node node--type-economy node--view-mode-full clearfix" about="/economy/b-its-impact-uk-economy-business-decreases-significantly-eu">
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        <a href="/economy/b-its-impact-uk-economy-business-decreases-significantly-eu" rel="bookmark"><span data-quickedit-field-id="node/46/title/fr/layout_builder-default-non_component-7b7fb212b9ee10a4a6151475fcc872e79b1acb477b0e85e708fc75481df6c7ea" class="field field--name-title field--type-string field--label-hidden">B Its impact on the UK economy as the business decreases significantly with EU</span>
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        <div data-contextual-id="node:node=46:changed=1632757031&amp;langcode=fr" data-contextual-token="f1F0I1YzavvbRG7Q6LGURNkcy6UWcyF-EDzO_KypXqY"></div>
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            <div data-quickedit-field-id="node/46/field_paragraphe_left_economy/fr/layout_builder-default-0-91186141_4870_4cd2_bd66_267d71f02473-46-7b7fb212b9ee10a4a6151475fcc872e79b1acb477b0e85e708fc75481df6c7ea" class="clearfix text-formatted field field--name-field-paragraphe-left-economy field--type-text-long field--label-hidden field__item"><p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">The United Kingdom's decision to withdraw from the European Union on June 23, 2016, is referred to as "Brexit." It is a mix of the words "Britain" and "exit."</span></span></span></span></span></span></p>
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            <div data-quickedit-field-id="node/46/field_paragraphe_economy_1/fr/layout_builder-default-0-e380b51b_8429_43a4_83f1_79ddb3d01e8a-46-7b7fb212b9ee10a4a6151475fcc872e79b1acb477b0e85e708fc75481df6c7ea" class="clearfix text-formatted field field--name-field-paragraphe-economy-1 field--type-text-long field--label-hidden field__item"><p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">The UK conducted a referendum on 2016, June 23 to choose whether they should remain in the EU or leave. 17.4 million people voted to "Leave”, while 16.1 million people voted to "Remain”. With 3.8 percent of the vote, Leave won in the end.</span></span></span></span></span></span></p>

<p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">On January 1, 2021, the UK parliament accepted a preliminary agreement whereas, on January 31, 2021, the UK exited the EU.</span></span></span></span></span></span></p>

<p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">There was a transition phase in effect until December 31, 2020. Everything was the same throughout that period and the UK remained compliant with all the European Union's laws and regulations. During this period, there was significant debate about the UK’s relationship with the EU.</span></span></span></span></span></span></p>

<p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Trade and cooperation agreements, nuclear cooperation agreements, and information security agreements are the three agreements between the UK and the EU.</span></span></span></span></span></span></p>
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                  <source srcset="/sites/default/files/styles/max_325x325/public/economy/galerie/2021-09/Betrix-2_0.webp?itok=8RhQRy-2 325w, /sites/default/files/styles/max_650x650/public/economy/galerie/2021-09/Betrix-2_0.webp?itok=PAqxUcXA 650w, /sites/default/files/styles/max_1300x1300/public/economy/galerie/2021-09/Betrix-2_0.webp?itok=SMJB6U40 800w" type="image/webp" sizes="(min-width: 1290px) 1290px, 100vw"/>
              <source srcset="/sites/default/files/styles/max_325x325/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=8RhQRy-2 325w, /sites/default/files/styles/max_650x650/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=PAqxUcXA 650w, /sites/default/files/styles/max_1300x1300/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=SMJB6U40 800w" type="image/jpeg" sizes="(min-width: 1290px) 1290px, 100vw"/>
                  <img srcset="/sites/default/files/styles/max_325x325/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=8RhQRy-2 325w, /sites/default/files/styles/max_650x650/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=PAqxUcXA 650w, /sites/default/files/styles/max_1300x1300/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=SMJB6U40 800w" sizes="(min-width: 1290px) 1290px, 100vw" src="/sites/default/files/styles/max_325x325/public/economy/galerie/2021-09/Betrix-2_0.jpg?itok=8RhQRy-2" alt="betrix" typeof="foaf:Image" />

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            <div data-quickedit-field-id="node/46/field_paragraphe_economy_2/fr/layout_builder-default-0-646bccc6_58e5_4a87_9edd_0ac1117002b4-46-7b7fb212b9ee10a4a6151475fcc872e79b1acb477b0e85e708fc75481df6c7ea" class="clearfix text-formatted field field--name-field-paragraphe-economy-2 field--type-text-long field--label-hidden field__item"><p style="margin-top:16px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Although the economy of the UK dropped less than predicted, the UK’s business with the EU was seen to have dropped as the transition period of Brexit has ended. Impact includes,</span></span></span></span></span></span></p>

<ul><li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Trade between the United Kingdom and the European Union is still subject to customs checks, implying that trade is not quite as easy as it was when the United Kingdom was a part of the European Union.</span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Aside from decreased trade, the GDP of the country decreased by 2.7% in January 2021. But, the decline in GDP is primarily due to limited economic activity during the pandemic, which was imposed shortly after the year began.</span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">The manufacturing and services have been harmed, but this has been somewhat offset by a substantial rise in healthcare spending, because of the country-wide implementation of a test-and-trace system to stop the virus from spreading.</span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:200%"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="line-height:200%"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">On January 1, the United Kingdom exited the EU's customs union and single market.</span></span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Brexit is most likely to be blamed for the sharp drop in exports and imports. Exports to the EU plummeted by 40.7 %, while imports fell by 28.8 % when contrasted with December, the biggest fall since comparable figures began being gathered in 1997.</span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Export to the nations which are not under the EU increased by 1.7%, while imports decreased by 17.6% from that very same nation.</span></span></span></span></span></span></li>
	<li style="margin-left:8px; text-align:justify"><span style="font-size:10.5pt"><span style="line-height:normal"><span style="font-family:&quot;Libre Franklin&quot;"><span lang="EN-US" style="font-size:12.0pt" xml:lang="EN-US"><span style="font-family:&quot;Times New Roman&quot;,serif"><span style="color:#0e101a">Two-third of UK exporters have encountered difficulty while exporting their products, with extra documentation being one of the most frequent problems.</span></span></span></span></span></span></li>
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