The UK's Treasury analysis of three scenarios if the UK leaves the EU
World Trade Organisation
-7.0
-7.5%
-6.0
-5.0
-4.0
-3.0
-2.0
-1.0
-3.8%
European Economic Area member
-6.2%
Bilateral agreement
-7.5%
World Trade Organisation
Membership of the European Economic Area, like Norway; negotiated bilateral agreement, like those of Switzerland or Canada; World Trade Organisation (WTO) membership would mean no specific agreement with the EU, like Russia for example