The increase and materialization of certain risks for global growth throughout 2018 have worsened the outlook for the coming years. In Europe, Brexit will continue to represent the main political risk facing the region during 2019. The business strategies to deal with it necessarily differ depending on the considered scenario. Among them, the possibility of a hard Brexit in 100 days must be accounted for.
There will still be a bit more waiting, who knows if until next October 31st, to be certain of how the United Kingdom will leave the European Union (EU). Only then there will be enough information enabling us to analyze what real effects Brexit will have. At the moment, announcements related to future tariff policies in case of a no deal situation, together with the analysis of the current commercial patterns between Spain and the United Kingdom, allow us to identify the automotive sector as one of the potentially most affected. However, the effects are not homogeneous throughout the Spanish Regions. Thus, the production and, therefore, the employment level of the automotive sector in Aragon, Navarra and Castilla y Leon show a greater degree of exposure to the British market than other regions.