Business, Freight News

Brexit costs Scots £4 billion, says report

[ February 6, 2025   //   Chris Lewis ]

Brexit trade barriers could have cost the Scottish economy £4 billion, according to an analysis published on 30 January by the Office of the Chief Economic Advisor. According to the Trade Modelling Report, Scottish exports could be lower by 7.2% or £3 billion compared to continued EU membership.

The chemical and pharmaceutical sector was one of the hardest hit by post-Brexit trade barriers, with an estimated 9.1% reduction in output, followed by the computer and electronics sector with an estimated 7.7% fall. The 4.9% output drop estimated for the agrifood sector represents a loss of £827 million.

Tags: Scottish Government