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Brexit economy News

Brexit will have a deeply negative impact on Poland

Brexit with deal or no deal is not good for Poland

editor: REMIX NEWS
author: Polska Gospodarka

Regardless of whether a deal or no-deal Brexit occurs, Poland will be hit hard, according to a new report by the Polish Economic Institute (PIE).

According to research conducted in conjunction with the London National Institute of Economic and Social Research, Polish imports from the UK will decrease by 11 percent in the case of a Brexit deal and by 19 percent in the case of no-deal Brexit.

Given these calculations, Poland’s GDP would decrease by 0.14 percent (€702 million) in the case of a Brexit deal and by 0.24 percent (€ 1.17 billion) if a hard Brexit occurs.

Workers may also face cuts, with a 0.13 percent workplace reduction of 20,000 if the UK leaves with a deal and by 0.23 percent, representing 35,000 workers, if there is no deal.

Poland’s agricultural-food sector would be impacted the most by Brexit, as it comprises about 20 percent of the entire Polish export to the UK.