Who in the EU Has the Most to Lose in Case of a No-Deal Brexit

The European Union’s manufacturing sector -- already attempting to recover from a series of shocks and facing risks from U.S. trade tariffs -- has a sizable exposure to U.K. demand. Bloomberg Economics estimates that almost 2.5 percent of EU-27 activity is exposed to the bloc’s exports to Britain and most types of exports, goods and services alike, will face disruption as and when the exit occurs. A disorderly exit would add to the costs and that’s partly why the EU-27 have an incentive to avoid that scenario.