Economic Implications of Brexit for the International Competitiveness of Russia

Abstract

This paper examines the possible impact of the UK’s impending exit from the EU on the international competitiveness of the Russian economy. To this end, an in-depth analysis of Russia’s competitive profile is conducted to identify the main advantages and disadvantages of its economy in international trade, followed by a discussion of relations between Russia and the UK in trade, investment and the movement of labour. The analysis shows that, due to the scale of mutual economic cooperation and the existing competitive profile of the Russian economy, Brexit will most likely have a limited impact on Russia’s competitiveness in the global economy.