In today's blog post we take a look at South Africa's exports of Ores and slashes (most Iron Ore) and then products of Iron and Steel. The reason we are looking at this is due to the US slapping import tariffs on these products being imported into the US from both the EU and Canada and Mexico. So just how much of this type of product do the USA import from South Africa and will it affect South Africa's trade in these products with the USA?
Or is the USA just a drop in the ocean when it comes to importing these products from South Africa? To put it into perspective we have added China to the mix as its a well known fact that China imports large volumes of the type of products from South Africa
Ores and Slashes
The chart below shows the monthly Rand value of Ores and Slashes being exported by South Africa to the United States and China.
From the graphic above it is pretty clear that South Africa exports a far greater amount of Ores and slashes to China than to the United States. Since the start of 2010, the average Rand value of Ores and Slashes exported to both China and the USA is shown below:
- China: R5.09billion
- United States: R383million
Products of Iron and Steel
The chart below shows the money Rand value of South African exports of products of Iron and steel to both the United States and China. And the size of the two markets are a lot more similar compared to the market for Ores and slashes.
From the graphic above it is pretty clear that South Africa exports of products of Iron and Steel is a lot closer between China and the United States than Ores and Slashes. Since the start of 2010, the average Rand value of Products of Iron and Steel exported to both China and the USA is shown below:
- China: R958million
- United States: R621million