Impacts of Brexit on The United Kingdom's internatonal politics and macroeconomic rates

Britain's decision to exit the European Union, which is abbreviated as Brexit, is a culmination of events in the history of EU-UK relations and this process will have crucial consequences on both continental and global scale. Therefore, this study focuses on determining the impacts of BREXIT on the United Kingdom's international politics and macroeconomic indicators through analysing the United Kingdom-European Union relations from a global perspective regarding the historical background, political aspects, and economic matters. From the perspective of historical background, the impacts of it on the UK's international politics will be shown by the fact that Brexit has its roots in its close history. In this regard, from Winston Churchill to Theresa May, the UK governments' approach to the EU will be examined. Furthermore, by using the data sets such as Gross Domestic Product (GDP), Total Investment (TI), Inflation Rate (IR), Unemployment Rate (UR), General Government Total Expenditure (GGTE), General Government Net Debt (GGND), and Current Account Balance (CAB) between 2006-2023 obtained from International Monetary Fund Outlook Database and t-Test: Paired Two Sample for Means, a statistical method, the impacts of Brexit on UK's macroeconomic rates will be determined. In conclusion, the results of t-Test analysis has shown that Brexit decision is expected to bring an important advantage to the UK because Brexit significantly affects 4 macroeconomic indicators out of 7 macroeconomic indicators discussed in the thesis. However, even if the current situation looks positive, it is still difficult to determine the impacts of Brexit on the macroeconomics of the UK because the studies on Brexit are mostly based on estimated values. Therefore, it is also expected that the ongoing Brexit negotiations between the EU and the UK might cause serious political and economic negativeness and uncertainties in the near future.