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Bloomberg
A U.K. vote to leave the European Union could cut gross domestic product of the Netherlands by €10 billion ($11.4 billion) by 2030 due to an increase in the cost of trade, having a “relatively severe effect†on the economy, the Dutch planning agency said.
Assuming that trade also fosters innovation, Brexit-related costs could increase another 65 percent, the agency, known as the CPB, said in a policy paper Thursday. The impact could be reduced if the EU reaches a new trade agreement with the U.K., it said.
GDP loss versus connection with the UK in Europe in 2030
The CPB’s warning echos comments this month from the OECD, which put the Netherlands at the top of its list of countries that would take an economic hit from Brexit.
That’s because the nation, along with Ireland and Luxembourg, has a high exposure to the U.K. in trade and investment. Sectors such as food processing, metals and minerals and chemicals would be among those suffering most in the Netherlands, the CPB said.