The UK exit from the EU will affect the economies of 20 countries

Almaty. June 10. Silkroadnews – The rating agency “Standard & Poors” (S&P) has introduced a new index – Brexit sensitivity index – to reflect the connections between the economies of the UK and other countries; Brexit will affect the economies of 20 countries, RBC writes.

“On the eve of a referendum on the UK membership in the European Union S&P has introduced a new index – index of sensitivity to Brexit (BSI), which reflects the economic relations of real and financial sectors of the analyzed countries with the British economy, which is the fifth largest in the world,” the publication states.

The basis for calculations has been formed by the data on 20 countries that, according to the agency, shall be affected the most.  Of these, only two – Switzerland and Canada – are not part of the European Union, and only one, Canada, is not located in Europe.

BSI aggregates the volume of these countries’ exports of goods and services in the UK compared to their GDP, bilateral migration flows, debt requirements (including off-balance sheet requirements) to the counterparties from the UK and foreign direct investment into the country. Index does not reflect longer-term effects of the consequences of Brexit on the markets and also it does not reflect potential political risks.

Ireland, Luxembourg, Malta and Cyprus are the most vulnerable to a potential solution by the UK on the leaving the EU in the field of trade and migration.

Earlier British Prime Minister David Cameron said the referendum to decide on the UK membership in the European Union will be held on June 23.