Impact of Brexit on Global Trade

MAIN BODY

1. Key trends in trade of goods and services between Commonwealth Countries

The key trend in trade of goods and service between commonwealth countries defined changes and services between one economy and another. The countries comprised sales goods and services of better transaction of good exchange as part between resident and non- residents The transaction measure a million USD and percentage of net trade and also annual growth for export and imports. The commonwealth countries which is exchange good and services to another countries are- Belize, Botswana. Brunei, Cameroon, Austria, Antigua and Barbuda etc. when the Britain exit to the with European Union they change the laws and regulation and make new law for countries which defines on the good and service (Hatzigeorgiou and Lodefalk, 2016).

The key trends between the commonwealth countries upon the good services they change their countries global laws and regulation and make new laws for the countries towards all the good and service, the key trends define as the ratio between the import and export price, and the commonwealth countries are set their own goods and service related price. The key trade in goods comprised all products which subtract, add and the stock resource of country by entering its economy export a leaving import. And the trend in service defined the value exchange between non- resident of economy and the service trend also include insurance and financial service, computer and information service, constriction services and other business related services etc. (Secretariat, 2017). The commonwealth countries adopt the trends service in their countries after the Britain exit the European Union they adopt the key trends of good and service which include to exchange good and service to one country the another.

The key trends between commonwealth countries they add domestic values in the good and services like by economy between the commonwealth countries are added in gross is an estimate value and producing service and goods for export. All countries performed overall import and export and accept the internal demands for the countries. The high value of economy is more open, integrated and competitive. The economy changes over time according to country performance and their overall growth. The most common trends in good and service between the commonwealth are to ownership of marital resources and service between one economy and another. The trends of good and service mainly measured annul growth for import and export.

Moreover, the key trends accomplished the market of commonwealth countries and also deal with good dealer within the market. The commonwealth countries have the key trends according to key trends of good and service which is focus on the economy of the counties and they also change according to the market trends. The commonwealth countries supply the goods and service to the countries and running the business but their main purpose is implement their own laws and make business according the laws (Applebaum, 2017). The great advantages for the commonwealth countries they are separated to the European countries and they not committed to any other another countries laws. When the Britain exit from the European countries they Britain make new laws and they adopt the new service and good trend in their countries which is help to import and export the product to the countries and good dealing with other countries. After the Brexit the commonwealth states changes their all regulation and rules and that impacts going to the country economy. The business of good and service between the commonwealth countries make profit for the Britain because the trade of service or product are dealing with commonwealth countries this make large profit and they gross value increased.

Apart from that, the commonwealth creates small part of UK trade. 9% of total UK export going to the commonwealth in 2015. And the 44% of the European Union against the commonwealth. The UK goods export to the commonwealth nearly doubled from just under 13 billion in 1999 to close to 25 billion to 2010. But trends has reversed. UK goods export to the commonwealth fell from 29.9 billion 2013 to 25.1 billion in 2015. The many big players in commonwealth which are making large business in UK economy. The UL have many business partners in the commonwealth countries and this faster growing. The main part is the commonwealth trade in focus as UK prepare for the Britain exit. The commonwealth boosting the first meeting among 52 members of the nation and after that UK plane to leave the Europe Union.