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We take a look at the latest trade data released by the South African Revenue Service (SARS) and focus on South Africa's exports to the United States of America and imports from the United States so far in 2019. The USA is a very significant market for South Africa, with it regularly featuring as on of South Africa's top 3 trading partners both in terms of exports but for imports as well.
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What exactly is South Africa exporting to the largest economy in the world?
The treemap below shows the main product category exports from South Africa to the United States for 2019 so far (covering the months January 2019 to May 2019). As the image shows the bulk of South African exports to the United States falls under Precious Metals, with it making up just under 30% of South Africa's total exports to the USA so far during 2019. This category includes gold, platinum and diamonds.
The second biggest export category for South Africa to the USA is products of Iron and Steel with just over 18% of South African exports to the USA and the third biggest export category being Mineral products with just under 16%. This category includes iron ore. So the three biggest export categories for South Africa to the USA are all primary goods/commodities. Or goods which does not require significant processing or manufacturing.
The tree map below shows the imports from the United States into South Africa.
The tree map below shows the imports from the United States into South Africa.
As the treemap of South Africa's imports from the USA shows, the main product categories imported by South Africa from the USA is not the primary type goods or commodities (like we export to them) but goods that entailed a lot more manufacturing and processing). The main product category imported by South Africa from the United States is Machinery, with it making up more than a quarter of South Africa''s imports from the USA. The second biggest import category being vehicles, aircrafts and vehicles with it making up 17% of the total imports by South Africa from the USA. Mostly American built vehicles being imported into South Africa
Below a brief summary of the top 5 trading partners for South Africa during May 2019. As mentioned earlier in the article the United States regulary features under the top 3 trading partners for South Africa.
Exports
The top 5 export destinations for South African exports during May 2019:
So just over 10% of South Africa's exports in May 2019 headed to China, with just over 7% heading to the United Sates.
Imports
The top 5 import origins in South Africa during May 2019:
Almost 20% of South Africa's imports came from China, 9.1% from Germany (most cars and machinery and equipment), and 7.3% of South Africa's imports came from the USA.
Total Exports for May 2019: R 112,069,153,495
Total Imports for May 2019: R 110,331,942,516
Trade Balance for May 2019: R 1,737,210,979
Below a brief summary of the top 5 trading partners for South Africa during May 2019. As mentioned earlier in the article the United States regulary features under the top 3 trading partners for South Africa.
Exports
The top 5 export destinations for South African exports during May 2019:
- China (11.0%)
- United States (7.2%)
- Germany (6.8%)
- United Kingdom (6.1%)
- Japan (5.4%)
So just over 10% of South Africa's exports in May 2019 headed to China, with just over 7% heading to the United Sates.
Imports
The top 5 import origins in South Africa during May 2019:
- China (18.5%)
- Germany (9.1%)
- United States (7.3%)
- India (4.9%)
- Nigeria (4.6%)
Almost 20% of South Africa's imports came from China, 9.1% from Germany (most cars and machinery and equipment), and 7.3% of South Africa's imports came from the USA.
Total Exports for May 2019: R 112,069,153,495
Total Imports for May 2019: R 110,331,942,516
Trade Balance for May 2019: R 1,737,210,979