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Brexit materialised on January 31, 2020, entering a transition period to negotiate the future relationship until December 31.
Before leaving the EU, the United Kingdom was the 2nd largest economy in the EU, representing 15.2% of European GDP and 12.9% of its population.
Moreover, its GDP per capita exceeds the EU average by 11%, and its unemployment rate is 2.4pp lower.
The UK-EU tariffs will be restored post-Brexit and will determine the evolution of its external sector.
Brexit and the restriction on free movement of persons could affect more than 10 million Europeans and Britons.