It will soon be a year since the important decision of UK's withdrawal from the EU has been approved. Without denying the risks and challenges of this geostrategic choice, it seems so far that the risks and losses for partner countries have not been confirmed and look rather exaggerated. Let us look specifically at some macroeconomic evidence of Brexit's neutral impact on EU economies.
First of all, let us say that for the past 5 years, UK's economic growth rate was significantly higher than the corresponding rates of major continental European economies. Also, UK's economy became second largest economy in the EU (ahead of France), reaching €2.58 trillion in 2015 (almost $2.9 trillion) (Germany — over €3.0 trillion or approximately $3.4 trillion) (Chart "Nominal GDP"). Despite some weakening of the pound in 2016, the nominal GDP has not changed greatly, and thus the overall balance of value of major European economies has remained unchanged.1 Accordingly, in the post-crisis period, the UK GDP per capita, PPP, has significantly grown compared to other eurozone countries (Chart "GDP per capita, PPP "). So there is reason to believe that the balance will remain in med-term.
