No-deal Brexit will cost Netherlands €3 billion per year: German think tank

The United Kingdom leaving the European Union with no agreements in place would be a hard blow for the Netherlands, according to German think tank Bertelsmann Stiftung. A no-deal Brexit will cost the Netherlands 3.16 billion euros per year, the think tank calculated. That amounts to 186 euros per Dutch person per year, NU.nl reports.

The Brexit happening with agreements in place will be more favorable for the Netherlands. Then the damage will be limited to 1.75 billion euros per year, or 103 euros per Dutch person per year, according to the think tank.

Zuid-Holland and Noord-Holland will be most affected by the Brexit, respectively losing 700 million and 660 million euros per year in a no-deal Brexit. Drenthe and Flevoland will be least affected.

The United Kingdom will suffer the most damage, in every form of withdrawal from the EU. If agreements are in place, the Brexit will still cost the UK over 32 billion euros per year. If there's a no-deal Brexit, that damage increases to 57 billion euros per year. Germany is in second place, losing between 5 billion and 10 billion euros per year, varying per scenario.