South Africa is the most advanced and richest in economy today. It has more valuable mines and metals as compare to other countries. That’s why it is the second largest producer of gold in the world not only Gold but also produces Chrome, Platinum, Vanadium and Vermiculite and Manganese. This is not end here South Africa is very rich in mining and metals producing. It also produces Ilmenite Ore, Palladium, Rutile and Zirconium and second largest producing as well as exporting company in the world.
Did you know? South Africa is also the third largest Coal exporter in the world. South Africa has also a large agricultural sector as well as net exporter of farming and fishing products.
Are you looking to import and export trade of South Africa? Before that you need to get actual and updated data for trading or business.
South Africa’s foreign trade and investment is boycotts by other countries in 1980 and early 1990. In 1970, the United Nations Security Council (UNSC) passed a resolution 282 imposing a voluntary arms embargo upon its’, and which was extended by subsequent resolutions 418 and 591, declaring the embargo mandatory. It is the 34th largest export economy in the world.
South Africa Trade: Exports
The Republic of South Africa exports around US$94 billion worth of goods in every parts of the world in 2018. Thus, the dollar amount reflects to 2% gain since 2014 and a 7% jump from 2017 to 2018.
In 2019 South Africa exports following things worldwide in various sectors including:
- Gems and precious metals like Gold, Platinum, Chrome and Manganese around 20% of total exports.
- Ores, Slag, Zirconium: 14%
- Four wheeler and other vehicles: 13%
- Mineral Fuels including other Natural Oils: 11%
- Iron, Iron ore, Steel: 7%
- Machinery including computers: 6.5%
- Fruits and Dry fruits: 4%
- Aluminum: 2.5%
- Electrical Machinery, Equipment: 2%
- Plastics, Plastic related Articles: 1.6%
South Africa Trade: Imports
Similarly, in 2019 South Africa imports following things from various parts of the world including:
- Machinery: 23.5 %
- Mineral Products: 15.1 %
- Vehicles and Aircraft Vessels: 10%
- Chemicals: 10%
- Equipment Components: 8.1%
- Iron and Steel Products: 5.3%
Renowned Trading Partners of South Africa
South Africa imports many things in terms of mining and metallic items to most of the part of world. But main trading partners are including:
- China: 18.3%
- Germany : 11.5%
- United States: 6.6%
- India: 4.7%
- Saudi Arabia:4.6%
Rather than these, SA also imports many things from United Kingdom, Thailand, Italy and France as well.
South Africa’s main currency is, the Rand’s (ZAR). There is another key indicator is unemployment. In 2017 its unemployment rate was 26.7% and in 2019 that elevated to 27.6% as per Trading Economics.
Corpiness World Trade Report is the best option to get Import and Export data for South Africa. It provides accurate and updated data to bring a growth in your business. For more information call us on +91-9891807878.