Research and analysis

BIST new quantitative trade model

Technical note detailing the background, data and parameters used to create BIST's new quantitative trade model (NQTM).

• From: Department for Business, Innovation, Science and Trade and Department for Business and Trade
• Published: 7 August 2026

Documents

BIST new quantitative trade model

PDF, 1020 KB, 42 pages

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Details

This technical documentation details the set-up of the Department for Business, Innovation, Science and Trade’s (BIST’s) new quantitative trade model (NQTM). This was developed to provided analysis on the impacts from free trade agreements (FTAs).

This paper provides an overview of how this model operates, the theory and data used to construct it, and its limitations. Finally, the document compares the NQTM to the large-scale Global Trade Analysis Project (GTAP) computable general equilibrium (CGE) model.

Published 7 August 2026