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Importing from South Africa

South Africa Import Guide | Trade Finance Global

Importing from South Africa

The top exports from South Africa in terms of value, are gold (around $20B), diamonds (around $9B), platinum (around $7B), coal (over $6B) and iron ore (over $5B). In terms of the country of export, the main countries are China (around $10B), United States ($8B), the UK (around $8B), India ($7B) and Hong Kong ($8B).

Geographically, South Africa sits on the borders of Lesotho, Botswana, Mozambique, Zimbabwe, Namibia and Swaziland. South Africa is the world’s third largest exporter of coal and in terms of production, South Africa sits as one of the main producers of gold; also being the largest producer of manganese, chrome, vanadium, platinum and vermiculite. It also ranks second in terms of production with commodities such as palladium, rutile and vermiculite. They also export fruits, corn, wool and sugar in the large part. The export value in South Africa averaged around 14000 ZAR Million from 1957 until 2015, reaching a height of around 94000 ZAR Million at the end of 2015 and a low of around 55 ZAR Million at the end of 1958.

South Africa Country Profile

Official Name (Local Language)The Republic of South Africa
CapitalPretoria
Population54,300,704
CurrencySouth African Rand
GDP$280.4 billion
LanguagesAfrikaans
Telephone Dial In27

South Africa Exports Profile

Exports ($m USD)

88,268

Number of Export Products

4,461

Number of Export Partners

223

Top 5 export partners

Country

Trade

% Partner Share

China

8,666

9.82

United States

6,62

7.50

Germany

5,81

6.58

Unspecified

5,465

6.19

Japan

4,162

4.72

Top 5 Export Products at HS 6 digit level

Export product

Number

Bituminous coal, not agglomerated

7.5%

Gold in oth semi-manufactured forms,non-monetar

6.5%

Agglomerated iron ores and concentrates

6.4%

Ferro-chromium containing by weight more than 4

5.6%

Diesel powered trucks with a GVW not exceeding

5.4%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for South Africa

Agriculture

%

Product List

2.2%

Corn, wheat, sugarcane, fruits, vegetables; beef, poultry, mutton, wool, dairy products

Industry

%

Industry List

29.2%

Mining: platinum, gold, chromium; automobile assembly, metalworking, machinery, textiles, iron and steel, chemicals, fertilizer, foodstuffs, commercial ship repair

Services

%

Services List

68.7%

Travel Transportation Other business services Financial services Computer and information services Government services Cultural and recreational services Royalties and license fees Construction services

Importing from South Africa: What is trade finance?

South Africa ranks as the thirty-sixth largest export economy in the world and the fourty-fifth most complex economy as rated by the Economic Complexity Index (ECI). South Africa exports around $110B and imports around $108B a year, which results in a small positive trade balance of around $2B. The GDP of South Africa is around $360B and the GDP per capita is around $12k. Imports into South Africa averaged around 14500 ZAR Million from around 1957 until 2015, which reached a height of around 110000 ZAR Million at the end of 2014 with a record low of around 65 ZAR Million at the end of 1961.

The main imports are crude petroleum (around $14B), cars (over $5B), gold ($5.5B) and computers ($2.2B). The main origins of import are China (around $16B), Germany (over $9B), Saudi Arabia (over $8B), the United States (over $6.5B) and India (around $5.3B). The main South African imports are fuel (around 25%), boilers, nuclear reactors, machinery (around 15%), vehicle parts (around 10%), telephone sets (around 3%), pharmaceuticals (2%), and vegetables (2%)

Information

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South Africa Economic Statistics

Government Website

https://www.gov.za/

Sovereign Ratings

https://countryeconomy.com/ratings/south-africa

Central Bank

South African Reserve Bank

Currency USD Exchange Rate

43661

Unemployment Rate

26.8%

Population below poverty line

16.6%

Inflation Rate

6.5%

Prime Lending Rate

5.75%

GDP

$280.4 billion

GDP Pro Capita (PPP)

$13,500

Currency Name

South African Rand

Currency Code

ZAR

World Bank Classification

Upper Middle Income

Competitive Industrial Performance

47/138

Corruption Perceptions Index

71/180

Ease of Doing Business

82/190

Enabling Trade Index

55/136

Currency in South Africa

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