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Blog: 24 April 2016 (South Africa's biggest trading partners)
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In today's blog we take a look at South Africa's 5 main training partners for both Imports and Exports. And the contribution the five biggest trading partners for Imports and Exports makes up out of the total Imports and Exports.
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Exports: February 2016
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The bar chart to the right shows South Africa's five biggest export destinations for February 2016, with Germany being the biggest contributor to South Africa's Exports with 8.2% share, USA second with 8%, China third with 7.4%, Botswana fourth with 5.4% and Japan taking the fifth place with 4.9%
While China is South Africa's third biggest Export destination, it is by far the biggest contributor to South Africa's Imports, as the bar chart below shows. The next effect of which is a massive trade deficit for the month of February 2016 with China (I.e South Africa paying a lot more towards China, than what they are getting from China for their Exports). With China being such a massive market to offset products, one has to wonder whether South Africa firms cant do more to increase Exports to China? |
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Imports: February 2016
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Four of the five biggest Export destinations makes the list of five biggest import destinations too. The only difference being Botswana falling out and India coming in. As can be seen from the graph, Imports from China dwarfs imports from South Africa's other big importing destinations for February 2016. With just more than 20% of all imports for February 2016 coming from China, 12.4% coming from Germany, 7.3% from USA, 4% from India and 3.2% from Japan.
In one of our future blogs we will take a more detailed look into the products being imported and exported into and out of South Africa. All we know is South African ports and airports are extremely busy, with total value of trade in merchandise for February totaling over R180billion. Total value of merchandise trade for February 2016: Imports: R91.7 billion Exports: R90.7 billion |