Impact of Brexit on the Dutch economy
The Netherlands and the United Kingdom do a lot of business with each other. The UK is the Netherlands’ biggest export market after Germany and Belgium. Brexit will hit the Netherlands hard, but it also offers opportunities.
Gross domestic product (GDP)
The Netherlands Bureau for Economic Policy Analysis has calculated the impact of Brexit on the Dutch economy. Brexit will reduce trade with the UK. The loss to the Dutch economy could total 1.2% of GDP by 2030. This is equal to 10 billion euros. Less trade may also mean less innovation in various sectors of the economy.
Opportunities for Dutch businesses
Brexit also provides opportunities for Dutch businesses. In some sectors, UK businesses will soon be less competitive in trade with the EU. This will make it easier for Dutch businesses to find new markets to sell their products.
Opportunities thanks to the arrival of the EMA
Because of Brexit, the European Medicines Agency (EMA) will relocate in May 2019 from London to Amsterdam. This means more people will visit and spend money in the Netherlands.