A fast vaccination campaign will counterbalance negative effects from Brexit in 2021
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD2825.21 bn (World ranking 5, World Bank 2018) |
Population | 66.49mn (World ranking 22, World Bank 2018) |
Form of state | Constitutional Monarchy |
Head of government | Boris Johnson (Conservative Party) |
Next elections | 2024, legislative |
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- Supportive economic and fiscal policies
- High trade balance surplus on services
- Healthy banking sector
- Diversified export structure
- Very friendly business environment
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- High trade balance deficit on goods
- High current account balance deficit
- Uncertainty surrounding Brexit
- Decreasing long term per capita income
- Low productivity growth
Trade structure by destination/origin
(% of total)
Exports | Rank | Imports |
---|---|---|
United States
14%
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1 |
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Germany
10%
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2 |
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France
6%
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3 |
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Netherlands
6%
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4 |
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Ireland
5%
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5 |
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Trade structure by product
(% of total)
Exports | Rank | Imports |
---|---|---|
Cars
12%
|
1 |
9%
Non-Monetary Gold
|
Pharmaceutical
7%
|
2 |
9%
Cars
|
Aeronautics
7%
|
3 |
5%
Pharmaceutical
|
Engines
4%
|
4 |
3%
Aeronautics
|
Non-Monetary Gold
4%
|
5 |
3%
Telecommunications Equipment
|
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Low
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Medium
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Sensitive
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High
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Payments
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Court proceedings
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Insolvency proceedings
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Payments
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Court proceedings
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Insolvency proceedings
UK courts are efficient in delivering timely decisions, but recent changes in charges mean it can be expensive for large value debts. Timely escalation from credit control to skilled external debt collection agencies remains effective.
The insolvency framework is oriented towards the protection of creditors’ rights, although an emphasis has been made on the need to rescue viable businesses. Such proceedings would not guarantee that the debt would be recovered as in practice there are no limitations as to how much of the debt may be written off during renegotiations. Furthermore, liquidation proceedings would rarely yield any proceeds to unsecured creditors.
LATEST NEWS ABOUT UNITED KINGDOM
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A further +50% to 70% rise in non-energy commodity prices could actually wipe out all profits in six out of the nine sectors under analysis.
Economic Outlook: Energy, trade and financial shockwaves
The Russian invasion of Ukraine has brought back significant headwinds to the global economic recovery and raised wider geopolitical risks.
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