View Full Site
News Opinion & Analysis Sport Business Times Books Lifestyle

Brexit impact on trade between South Africa, UK 'minimal' - Reserve Bank

06 July 2016 - 15:22
By Reuters
An EU flag, with a hole cut in the middle, flies at half-mast outside a home in Knutsford, Cheshire, after the historic referendum this week. EU leaders are pushing for Brexit to start sooner rather than later.
Image: GETTY IMAGES An EU flag, with a hole cut in the middle, flies at half-mast outside a home in Knutsford, Cheshire, after the historic referendum this week. EU leaders are pushing for Brexit to start sooner rather than later.

The impact of Brexit on South Africa's direct trade links with the United Kingdom are expected to be minimal but the country will be indirectly affected by heightened market volatility, Central Bank Deputy Governor Daniel Mminele said on Wednesday.

"The UK's present and future are now riddled with uncertainty, naturally accompanied by a flight to safety," Mminele said in a speech posted on the bank's website.

"For South Africa, the implications through direct trade links are expected to be relatively minimal. In 2015, the UK accounted for only 4 percent of our total merchandise exports."

© 2024 Arena Holdings (Pty) Ltd. All rights reserved.

Use of this site constitutes acceptance of our Terms & Conditions and Privacy Policy.