Insights and analysis

Africa post-Brexit — six months on

#DailyNugget: Africa’s trade with the UK is on a downward trend

Data shows Africa’s trade with the UK is on a downward trend. From a peak of £32.1bn in 2012 British-African trade was £19.2bn in 2015. Furthermore, 2016 third quarter trade value was 11% lower than five-year third-quarter average figures.

Most African currencies have greatly appreciated against the Pound since the Britain chose to break its relationship with the EU posing a threat to African exporters to Britain. In addition, there remains great uncertainty over the future trade relations between African states and Britain given the fact that the EU has signed trade deals, termed Economic Partnership Agreements (EPAs), with African states and not directly with the Britain. Foreign Direct Investment to Africa from Britain may also be at risk.

Richard Li analyzes what Brexit has so far meant, and what it could mean, for Africa.

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