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South Africa's biggest trading partners for August 2018
Date: 6 October 2018 Category: Economics |
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We take a look at the lastest customs data from the South African Revenue Service (SARS) and take a look at South Africa's biggest trading partners for the month of August 2018. We break it down for both imports and exports.
And for the month of August 2018, South Africa's 5 biggest trading partners are exactly the same for both South African imports and South African exports. |
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South Africa's biggest trading partners
Ever wondered where South Africa's imports are coming from or where the goods we export are going to? The following graphics shows a bubble chart in which bubble represents a country and the size of the bubble represents the relative importance/size of each country's trade with South Africa.
Exports
The bubble chart above shows the main export destination for South African goods being exported. The main countries include:
While the Netherlands look like it is a big export destination for South African goods, it is called the Rotterdam effect. Goods are sent to Rotterdam and is then shipped to the rest of Europe from there. Thus the Netherlands is artificially big in the South African export numbers.
- China (9% of total exports of South Africa heads to China)
- Germany (7.9%_
- United States (5.8%)
- United Kingdom (5.3%)
- India (5%)
While the Netherlands look like it is a big export destination for South African goods, it is called the Rotterdam effect. Goods are sent to Rotterdam and is then shipped to the rest of Europe from there. Thus the Netherlands is artificially big in the South African export numbers.
Imports
The bubble chart below takes a look at South Africa's biggest import origins for the month of August 2018. In this case the chart is totally dominated by China, showing just how much of South Africa's imports comes from China.
The bubble chart above shows the main import origins for South African goods being imported into South Africa. The main countries include:
For both South African imports and South African exports for the month of August 2018 the five biggest trading partners for South Africa is exactly the same. With crude oil prices increasing and the Rand continuing to remain weak, we predict that Saudi Arabia (which is already under the top 10 biggest countries with regards to South African imports) will soon make its way into the top 5 import origins for South Africa. As regardless what the crude oil price is or the Rand/Dollar exchange rate is, we need crude oil to ensure the economy and country keeps going.
- China (19% of total imports into South Africa comes from China)
- Germany (11.7%)
- United States (6.3%)
- India (4.7%)
- United Kingdom (3.7%)
For both South African imports and South African exports for the month of August 2018 the five biggest trading partners for South Africa is exactly the same. With crude oil prices increasing and the Rand continuing to remain weak, we predict that Saudi Arabia (which is already under the top 10 biggest countries with regards to South African imports) will soon make its way into the top 5 import origins for South Africa. As regardless what the crude oil price is or the Rand/Dollar exchange rate is, we need crude oil to ensure the economy and country keeps going.