Spatial-Temporal Characteristics of UK—Commonwealth of Nations’ Trade and its Impact on the UK’s Economic Growth

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This paper analyzes the trade between the UK and Commonwealth of nations from the perspective of time and space .We use a detailed trade data to analyze the volume and structural change of trade in the 21st century, the findings show that the trade volume of goods between the UK and the Commonwealth is only 8.27% of the UK’s total foreign trade of goods, the degree of closeness and dependence of trade show a decreasing trend, and the bilateral trade shows significant spatial differences. Then we use vector auto-regressive model to analyze the impact of the UK’s trade with the Commonwealth on its economy and there exists a long-term stable trend. Trade shock has a positive effect on the UK’s economic growth.