Brexit: What will be the impact in a no-deal scenario for Togo and its neighbors?  

Economic governance
Wednesday, 24 April 2019 15:37
Brexit: What will be the impact in a no-deal scenario for Togo and its neighbors?  

(Togo First) - Britain’s exit from the European Union will “significantly affect conditions for access to the British market for developing countries.” This is according to the UNCTAD which however adds that this will have little impact on Togo.

In the related report, the institution indicates that the WAEMU is one of the least exposed regions to the Brexit. The document attributes this to low exports by Togo, Benin, Burkina Faso, Mali and Niger which export very little to the UK. Senegal, also a member of the union, could for its part lose up to $1.5 million if the deal goes through. However, Côte d’Ivoire risks 8% of its exports, valued at $29.7 million, in this scenario. In Ghana, 39% of exports, valued at $91 million, could be slashed making it the biggest loser in sub-Saharan Africa, and the second country that would lose the most in Africa after Morocco (-$97 million).

Overall, around twenty African countries may see their exports fall in the event of Brexit. These losses are estimated at $420 million.

In regard to gains, Africa could capture $3.24 billion in a “no-deal” scenario. Major winners would be South Africa ($3.04bln), Mauritius ($220mln), Botswana ($190mln), Seychelles ($105mln), and Namibia ($85mln).

Worldwide, big winners would be China, US, Japan and Thailand.

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