Britain’s decision to leave the European Union (EU) had an adverse effect on financial markets around the world. Millions of dollars were wiped from Europe’s leading stock exchanges, and the pound plummeted to a 31-year low against the US Dollar. Despite this market volatility, global trade continued to perform strongly in the week following Britain’s decision to leave the EU, reinforcing the underlying importance of cargo industries in driving global growth. By revoking its membership to the EU, Britain may no longer be part of the European Single Market, and therefore, the preferential trade agreements that have been signed between the EU and other nations will be amended. Already, some of the world’s leading trade powers have said that they will be striking bilateral trade and investment deals with Britain once it has formally left the EU. This edition of the Trade Focus Report explains how Brexit could have a positive impact on global trade, and ensure demand for container ships.
Click here to download this July's edition of the Trade Focus Report.