The Russia-Ukraine war is set to have implications for economies across the globe and African markets won’t be spared. Trade disruptions and soaring commodity prices will be felt by some of Africa’s more import-dependent countries, but commodity exporters will benefit from elevated commodity prices and new market opportunities.
What you will learn:
- Higher international cereal prices amid a loss of access to primary source markets could have severe political implications for some African countries, particularly those in North Africa.
- Favourable terms of trade shocks resulting from higher commodity prices will benefit commodity exporters, especially those focused on Russia's key exports.
- Some African economies could also benefit from new market opportunities as trade relations between Russia and the West sour – but this will largely depend on the positions taken by African leaders.
Crude oil prices,