Brexit and the United Kingdom’s Domestic and International Value Chains. Part - Exploring the Trade in Value-Added Perspective
Brexit and the United Kingdom’s Domestic and International Value Chains. Part - Exploring the Trade in Value-Added Perspective

Summary/Abstract: UK insertion in global value chains is analysed through the specific angle of inter-industrial relationships and international supply chains. The article is divided in two parts. The first one provides a global network perspective and several synthetic indicators related to the strengths and weaknesses of UK’s insertion in global value chains. About 6 million jobs are directly or indirectly created in the UK through its exports. North America generates the highest demand for UK business services skills, EU is the main driver for low-skill industrial jobs while exports to Asia embody medium to highly skilled jobs. Because a hard Brexit is expected to increase trade costs and affect prices, a forthcoming second part will estimate the impact of additional tariff and non-tariff trade costs on the competitiveness of key sectors.

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