|
South Africa's trade balance with the Americas (from Jan 2018 - May 2018)
Date: 10 July 2018 Category: Economics |
Related Topics |
|
In this article we take a look at South Africa's trade balance (the difference between imports and exports) with countries from the America's, which includes those from North, Central and South America.
While South Africa has a positive trade balance (exporting more than what we are importing) with a few of the countries from the Americas, the fact is South Africa has a negative trade balance (importing more than what we are exporting) with more countries from the Americas, including one of the BRICS group members. |
|
So who exactly does SA have favourable and unfavourable trade balances with?
The bar chart below shows South Africa's trade balance with countries from the Americas from January 2018 up to May 2018. The graphic is sorted from highest positive trade balance for South Africa to most negative trade balance for South Africa. And it is clear that the major country South Africa has a positive trade balance with is the United States (USA).
Below a summary of the bar chart above showing the Rand Value of the trade balance between South Africa and the various countries of the Americas for January 2018 to May 2018. So based on the below South Africa exported R3.78 billion more to the USA than what they imported from the USA, and South Africa imported R4.9 billion more from Brazil than what they exported to Brazil. So SA the clear winner in trade with the USA but a massive loser when it comes to trade with its BRICS buddy Brazil.
Over the period January 2018 to May 2018 South Africa has a cumulative trade balance with the America's of -R5 349 829 766. So South Africa has imported almost R5.4 billion more from the Americas than what they exported to them from January 2018 - May 2018. Not a favourable region for South Africa to trade with in terms of value trade it seems, as its on the losing end with countries of this region. But other benefits of trade might include cheaper imported goods than what it might have cost from other regions (keeping import and local inflation in check), better quality goods than what can be locally manufactured of obtained from other regions etc. But looking solely at value, South Africa is taking a beating currently when trading with the Americas.
- United States: R 3 780 295 927
- Panama: R 363 120 186
- Venezuela, Bolivarian Republic Of: R 85 117 981
- Bahamas: R 67 027 569
- Suriname: R 66 436 535
- Paraguay: R 42 656 488
- Martinique: R 37 328 284
- French Guiana: R 33 412 831
- Antigua And Barbuda: R 31 655 804
- Jamaica: R 25 765 739
- Guadeloupe: R 22 972 439
- Bermuda: R 17 942 754
- Cayman Islands: R 16 253 399
- Netherlands Antilles: R 15 296 094
- Belize: R 14 006 568
- Guyana: R 12 190 885
- Haiti: R 7 437 936
- Saint Vincent And The Grenadines: R 6 151 442
- Cuba: R 5 224 604
- Honduras: R 3 274 465
- Aruba: R 2 898 981
- Dominica: R 2 521 612
- Saint Lucia: R 2 275 385
- Nicaragua: R 2 273 340
- Grenada: R 1 417 051
- Virgin Islands, U.S.: R 1 182 236
- Falkland Islands (Malvinas): R 159 786
- Greenland: -R8 877
- Saint Kitts And Nevis: -R1 246 849
- Barbados: -R2 051 175
- Ecuador: -R3 116 085
- Bolivia, Plurinational State Of: -R4 075 477
- Guatemala: -R5 199 418
- Virgin Islands, British: -R12 326 123
- El Salvador: -R 25 412 222
- Dominican Republic: -R 25 526 934
- Costa Rica: -R50 415 731
- Uruguay: -R 69 550 136
- Colombia: -R 78 734 746
- Trinidad And Tobago: -R 98 728 162
- Puerto Rico: -R 99 508 618
- Canada: -R 349 741 404
- Peru: -R 354 568 921
- Chile: -R504 250 741
- Argentina: -R1 283 660 566
- Mexico: -R 2 081 871 931
- Brazil: -R 4 966 131 971
Over the period January 2018 to May 2018 South Africa has a cumulative trade balance with the America's of -R5 349 829 766. So South Africa has imported almost R5.4 billion more from the Americas than what they exported to them from January 2018 - May 2018. Not a favourable region for South Africa to trade with in terms of value trade it seems, as its on the losing end with countries of this region. But other benefits of trade might include cheaper imported goods than what it might have cost from other regions (keeping import and local inflation in check), better quality goods than what can be locally manufactured of obtained from other regions etc. But looking solely at value, South Africa is taking a beating currently when trading with the Americas.