Highlights
- Franctrade estimates the UK’s total trade with Africa fell 4% in 2017 to US$ 24.6 billion. This compares with a 4% increase in the UK’s trade with the world during the same period;
- Total CFA franc zone trade with the UK fell 14% in 2017 (est), steeper than the decline in the UK’s trade with Africa;
- Within the CFA zone Côte d’Ivoire is the UK’s largest trading partner accounting for 35% of total trade, followed by Senegal (34%) and Cameroon (8%).
- The UK’s bottom 3 trading partners within the zone are Guinea-Bissau (0.07%), the Central African Republic (0.09%) and Niger (0.2%);
- Total trade with the region (XOF and XAF) has slumped from a high of US$ 4.3 billion in 2013 to an estimated US$1.4 billion in 2017 (-68%), primarily due to a sharp decline in commodity prices;
- At its peak, Equatorial Guinea accounted for 48% of total trade in the region, largely on account of its crude oil exports. It’s share has collapsed to account for just 3% of total trade with the UK in 2017.
CFAZone Merchandise trade trends with the UK_franctrade
