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Morocco could suffer $97 million losses due to Brexit

Pro Brexit protesters gather to stage a demonstration at Parliament Square as British MPs debate the Brexit deal before voting it for the third time in London, United Kingdom on 29 March 2019. ( Tayfun Salcı - Anadolu Agency )
Pro Brexit protesters gather to stage a demonstration at Parliament Square as British MPs debate the Brexit deal before voting it for the third time in London, United Kingdom on 29 March 2019. ( Tayfun Salcı - Anadolu Agency )

Morocco could suffer $97 million in losses if Britain does not manage to negotiate an agreement to leave the European Union (EU).

According to a UN study published by Bloomberg, the countries that will lose because of Brexit are Morocco, Tunisia, Egypt, Ghana and Mozambique, while South Africa, Mauritius, Botswana, the Seychelles and Namibia will actually profit from a “no deal” scenario.

In this event, Morocco’s exports to Britain will decrease by $97 million, Ghana by $91 million, Tunisia by $49 million, Egypt $41 million and Mozambique $33 million.

According to the UN Conference on Trade and Development, the total export losses for 20 African countries could amount to $420 million.

The study also revealed that the exports of 11 other African countries will increase by $3.66 billion, with South Africa, Mauritius, and Botswana set to benefit most from this situation.

READ: Morocco: Hundreds of teachers protest for job security

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