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We take a look at the latest trade data released by South Africa's customs office the South African Revenue Service (SARS) and focus on trade between South Africa and Italy for the full year of 2019. With the Coronavirus hitting Italy hard the question is how will this affect trade between South Africa and Italy in coming months?
Note all data from South African Revenue Service (SARS) |
Colosseum in Rome, Italy
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South Africa's exports to Italy during 2019
So lets start off by looking at the main product categories exported by South Africa to Italy The summary below shows the total value of South Africa's exports to Italy for the full year of 2019 per major product category, sorted from biggest export category to smallest (based on Rand value exported).
The treemap below represents the information above graphically
- Products Iron & Steel: R 3 427 047 119
- Mineral Products: R 1 439 688 896
- Live animals: R 1 162 906 214
- Vegetables: R 840 964 009
- Textiles: R 716 156 796
- Raw hides & leather: R 514 695 090
- Chemicals: R 492 115 601
- Prepared foodstuffs: R 444 779 061
- Vehicles aircraft & vessels: R 390 303 247
- Plastics & Rubber: R 329 479 876
- Machinery: R 272 709 806
- Wood pulp & paper: R 178 575 718
- Precious Metal: R 125 372 785
- Photographic & medical equipment: R 62 612 466
- Stone & Glass: R 43 940 124
- Works of art: R 30 750 311
- Footwear: R 24 771 442
- Wood Products: R 11 873 475
- Toys & Sport apparel: R 11 194 929
- Other unclassified goods: R 7 823 780
- Animal or vegetable fats: R 5 367 091
- Equipment Components: R 0
- Total Exports to Italy for 2019: R 10 533 127 836
The treemap below represents the information above graphically
South Africa's major product exports to Italy
As the treemap shows the bulk of South Africa's exports to Italy is made up by Products of Iron and Steel, with it making up over 32% of total exports to Italy during 2019, followed by Mineral products which made up 14.13% of total South African exports to Italy during 2019. The third biggest export product category is Live animals, with Live animals being exported to Italy making up just over 10% of South Africa's total exports to Italy during 2019.
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South Africa's imports from Italy during 2019
Next up we take a look at the main product categories imported from Italy into South Africa. The summary below shows the total value of South Africa's imports from Italy for the full year of 2019 per major product category, sorted from biggest import category to smallest (based on Rand value imported).
The treemap below represents the information above graphically
- Machinery: R 11 025 087 696
- Chemicals: R 4 361 133 972
- Mineral Products: R 3 252 829 361
- Vehicles aircraft & vessels: R 2 396 083 275
- Plastics & Rubber: R 1 936 568 252
- Products Iron & Steel: R 1 693 449 062
- Prepared foodstuffs: R 1 569 916 346
- Photographic & medical equipment: R 999 685 629
- Equipment Components: R 730 324 891
- Wood pulp & paper: R 724 188 392
- Footwear: R 674 714 148
- Stone & Glass: R 650 357 168
- Toys & Sport apparel: R 625 140 870
- Textiles: R 540 295 616
- Precious Metal: R 260 169 200
- Vegetables: R 247 030 241
- Raw hides & leather: R 216 903 997
- Live animals: R 140 331 967
- Animal or vegetable fats: R 101 769 368
- Wood Products: R 42 325 214
- Other unclassified goods: R 41 216 791
- Works of art: R 8 873 547
- Total Imports from Italy in 2019: R 32 238 395 003
The treemap below represents the information above graphically
South Africa's major product imports from Italy
As the treemap above shows the biggest product import category during 2019 was Machinery (items such as Fassi cranes and cherry pickers and other machinery), with Machinery making up more than one third of South Africa's imports from Italy in 2019. A distant second place is made up by Chemicals being imported from Italy (within this category the bulk is pharmaceutical products), with it making up just under 14% of total imports from Italy during 2019. Surprising is the fact that Mineral products comes in as the third biggest import category for South Africa from Italy, as this is largely made up by Coal (of which we have lots) and then crude oil (which we dont have and Italy is not exactly known as a crude producer). The fourth biggest import category for South Africa from Italy is Vehicles, aircraft and vessels, largely made up by Italian vehicles being imported into South Africa from Italy, they include FIAT, ABARTH, Alfa Romeo, Ferrari and Maserati. Vehicle imports made up just over 7% of total imports from Italy during 2019 with a value of R1.9 billion.
South Africa's trade balance per major product category traded with Italy
The summary below shows South Africa's trade balance with Italy for the major product groupings, sorted from highest trade surplus (where South Africa exported more of a product group to Italy than what imported) to biggest trade deficit (where South Africa imported more of a major product group from Italy than what it exported to Italy).
Yesterday we reported good news for South Africa, where South Africa exported R25.54 billion more worth of goods to the United Kingdom than what they imported from the United Kingdom, when looking at South Africa's trade balance with Italy the story is totally different, with South Africa reporting a trade deficit with Italy during 2019 to the amount of -R21.7 billion. Basically South Africa imported R21,7 billion more in goods from Italy than what it exported to Italy. With Italy's trade deficit almost all but cancelling out the positive trade balance South Africa reported with the UK.
What would be interesting to observe is how trade between South Africa and Italy is affect from February 2020 onward with the significant outbreak of the Coronavirus in Italy. We will keep a close eye on this topic in coming weeks and months.
- Products Iron & Steel: R 1 733 598 057
- Live animals: R 1 022 574 247
- Vegetables: R 593 933 768
- Raw hides & leather: R 297 791 093
- Textiles: R 175 861 180
- Works of art: R 21 876 764
- Wood Products: R -30 451 739
- Other unclassified goods: R -33 393 011
- Animal or vegetable fats: R -96 402 277
- Precious Metal: R -134 796 415
- Wood pulp & paper: R -545 612 674
- Stone & Glass: R -606 417 044
- Toys & Sport apparel: R -613 945 941
- Footwear: R -649 942 706
- Equipment Components: R -730 324 891
- Photographic & medical equipment: R -937 073 163
- Prepared foodstuffs: R -1 125 137 285
- Plastics & Rubber: R -1 607 088 376
- Mineral Products: R -1 813 140 465
- Vehicles aircraft & vessels: R -2 005 780 028
- Chemicals: R -3 869 018 371
- Machinery: R -10 752 377 890
- Trade Balance with Italy in 2019: R -21 705 267 167
Yesterday we reported good news for South Africa, where South Africa exported R25.54 billion more worth of goods to the United Kingdom than what they imported from the United Kingdom, when looking at South Africa's trade balance with Italy the story is totally different, with South Africa reporting a trade deficit with Italy during 2019 to the amount of -R21.7 billion. Basically South Africa imported R21,7 billion more in goods from Italy than what it exported to Italy. With Italy's trade deficit almost all but cancelling out the positive trade balance South Africa reported with the UK.
What would be interesting to observe is how trade between South Africa and Italy is affect from February 2020 onward with the significant outbreak of the Coronavirus in Italy. We will keep a close eye on this topic in coming weeks and months.