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Brexit would be 'negative for Spain', say economists: exports to UK could cost up to 10% more
19 June 2016 @ 21:54

ECONOMY experts have warned that a 'Brexit' could have negative consequences for Spain, given that the UK is its third-largest trading partner after France and Germany, and Spanish exports to Britain totalled nearly €5 billion in the first quarter of this year.

Although they urge traders 'not to panic' and to 'put things into perspective', key speakers say 'extra hurdles' could be faced for industries which export to the UK, mainly food, transport and manufactured goods.

In theory, commercial relations between the two countries may not need to be hugely different after a Brexit, according to two experts – Professor Santiago Carbó of Bangor University in Wales, who is also head of Financial Studies at the Savings Bank Foundation in Spain (FUNCAS), and Agusti Ulied, economics tutor at ESADE business school.


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