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We take a look at the latest trade data released by South Africa's customs office the South African Revenue Service (SARS) and focus on trade between South Africa and Russia, two BRICS partners.
Has the impact of the Coronavirus started to show in trade between nations during February 2020 or is it still to early to see the impact of Coronavirus on international trade. |
St Peter's Square in Moscow, Russia
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South Africa's exports to Russia from January 2020 to February 2020
So lets start off by looking at the main product categories exported by South Africa to Russia. The summary below shows the total value of South Africa's exports to Russia for January and February 2020 per major product category, sorted from biggest export category to smallest (based on Rand value exported).
The treemap below represents the information above graphically
- Vegetables: R 334 511 185
- Mineral Products: R 92 843 456
- Machinery: R 86 689 690
- Plastics & Rubber: R 77 184 841
- Prepared foodstuffs: R 38 688 877
- Chemicals: R 19 686 725
- Products Iron & Steel: R 19 618 454
- Vehicles aircraft & vessels: R 10 573 068
- Photographic & medical equipment: R 3 713 821
- Precious Metal: R 1 017 372
- Works of art: R 873 919
- Textiles: R 802 734
- Raw hides & leather: R 365 643
- Live animals: R 213 061
- Wood Products: R 159 018
- Toys & Sport apparel: R 82 716
- Wood pulp & paper: R 76 586
- Stone & Glass: R 2 026
- Animal or vegetable fats: R 0
- Footwear: R 0
- Other unclassified goods: R 0
- Total Exports to Russia: R 687 103 192
The treemap below represents the information above graphically
South Africa's major product exports to Russia
As the treemap shows the bulk of South Africa's exports to Italy is made up by Products of Iron and Steel, with it making up over 32% of total exports to Italy during 2019, followed by Mineral products which made up 14.13% of total South African exports to Italy during 2019. The third biggest export product category is Live animals, with Live animals being exported to Italy making up just over 10% of South Africa's total exports to Italy during 2019.
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South Africa's imports from Russia from January 2020 to February 2020
Next up we take a look at the main product categories imported from Russia into South Africa. The summary below shows the total value of South Africa's imports from Russia for January and February 2020 per major product category, sorted from biggest import category to smallest (based on Rand value imported).
The treemap below represents the information above graphically
- Products Iron & Steel: R 571 004 746
- Chemicals: R 162 554 931
- Mineral Products: R 100 030 538
- Wood pulp & paper: R 69 175 317
- Precious Metal: R 57 791 999
- Machinery: R 21 729 999
- Plastics & Rubber: R 16 798 592
- Wood Products: R 10 331 287
- Live animals: R 9 283 535
- Vegetables: R 6 586 315
- Other unclassified goods: R 3 061 343
- Prepared foodstuffs: R 2 454 366
- Photographic & medical equipment: R 2 159 704
- Toys & Sport apparel: R 807 081
- Vehicles aircraft & vessels: R 115 837
- Stone & Glass: R 95 619
- Textiles: R 65 479
- Equipment Components: R 40 263
- Works of art: R 20 358
- Raw hides & leather: R 6 458
- Animal or vegetable fats: R 0
- Footwear: R 0
- Total Imports from Russia: R 1 034 113 767
The treemap below represents the information above graphically
South Africa's major product imports fromRussia
As the treemap above shows the biggest product import category during January and February 2020 is Products of Iron and Steel with it making up almost 56% of South Africa's imports from Russia so far in 2020. The second biggest import category for South Africa from Russia is Chemicals with it making up around 16% of South Africa's imports while Mineral Products is the third biggest import category and it makes up just under 10% of South Africa's imports from Russia
South Africa's trade balance per major product category traded with Italy
The summary below shows South Africa's trade balance with Italy for the major product groupings, sorted from highest trade surplus (where South Africa exported more of a product group to Italy than what imported) to biggest trade deficit (where South Africa imported more of a major product group from Italy than what it exported to Italy).
Yesterday we reported good news for South Africa, where South Africa exported R25.54 billion more worth of goods to the United Kingdom than what they imported from the United Kingdom, when looking at South Africa's trade balance with Italy the story is totally different, with South Africa reporting a trade deficit with Italy during 2019 to the amount of -R21.7 billion. Basically South Africa imported R21,7 billion more in goods from Italy than what it exported to Italy. With Italy's trade deficit almost all but cancelling out the positive trade balance South Africa reported with the UK.
What would be interesting to observe is how trade between South Africa and Italy is affect from February 2020 onward with the significant outbreak of the Coronavirus in Italy. We will keep a close eye on this topic in coming weeks and months.
- Products Iron & Steel: R 1 733 598 057
- Live animals: R 1 022 574 247
- Vegetables: R 593 933 768
- Raw hides & leather: R 297 791 093
- Textiles: R 175 861 180
- Works of art: R 21 876 764
- Wood Products: R -30 451 739
- Other unclassified goods: R -33 393 011
- Animal or vegetable fats: R -96 402 277
- Precious Metal: R -134 796 415
- Wood pulp & paper: R -545 612 674
- Stone & Glass: R -606 417 044
- Toys & Sport apparel: R -613 945 941
- Footwear: R -649 942 706
- Equipment Components: R -730 324 891
- Photographic & medical equipment: R -937 073 163
- Prepared foodstuffs: R -1 125 137 285
- Plastics & Rubber: R -1 607 088 376
- Mineral Products: R -1 813 140 465
- Vehicles aircraft & vessels: R -2 005 780 028
- Chemicals: R -3 869 018 371
- Machinery: R -10 752 377 890
- Trade Balance with Italy in 2019: R -21 705 267 167
Yesterday we reported good news for South Africa, where South Africa exported R25.54 billion more worth of goods to the United Kingdom than what they imported from the United Kingdom, when looking at South Africa's trade balance with Italy the story is totally different, with South Africa reporting a trade deficit with Italy during 2019 to the amount of -R21.7 billion. Basically South Africa imported R21,7 billion more in goods from Italy than what it exported to Italy. With Italy's trade deficit almost all but cancelling out the positive trade balance South Africa reported with the UK.
What would be interesting to observe is how trade between South Africa and Italy is affect from February 2020 onward with the significant outbreak of the Coronavirus in Italy. We will keep a close eye on this topic in coming weeks and months.