Sud-àfrica: Visió econòmica i política
South Africa is very open to international trade, which represents around 65% of its GDP (World Bank, latest data available). The country mainly exports platinum (9.7% of total exports, as the country produces 80% of the global output), coal (7.1%), iron ores (5.9%), gold (5.7%), and motor vehicles (5.4%). The main imports are petroleum oils (18.7%), motor vehicles (4%), crude oil (3.8%), and telephones (3.1% - Comtrade for 2023).
South Africa's top exporting countries are China (11.3%), the United States (7.5%), Germany (6.8%), Mozambique (5.6%), and Japan (5.2%). One-fifth of imports come from China, followed by the U.S. (8.6%), Germany (8.1%), India (7%), and the UAE (3.7% - Comtrade). South Africa is the EU's largest trading partner in Africa: exports to the EU have been growing and becoming more diverse, with the country moving from mainly commodity-based products to a more diversified export profile that includes manufactured goods (World Bank).
According to the South African Reserve Bank, the country's trade surplus narrowed from ZAR 179.5 billion in Q2 2024 to ZAR 177.0 billion in Q3 due to a sharper decline in exports than imports. Both volumes and prices of goods and services fell. The services, income, and current transfer deficit improved for the second consecutive quarter, narrowing from ZAR 254.7 billion to ZAR 247.8 billion, reducing its GDP ratio from 3.5% to 3.4%. South Africa's terms of trade (including gold) improved slightly in Q3 2024 as the rand price of imports fell more than exports.
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
Foreign Trade (in % of GDP) | 54.6 | 54.1 | 50.8 | 56.2 | 64.9 |
Trade Balance (million USD) | 1,870 | 2,487 | 17,667 | 30,484 | 14,039 |
Trade Balance (Including Service) (million USD) | 1,986 | 1,939 | 15,020 | 26,014 | 8,516 |
Imports of Goods and Services (Annual % Change) | 3.2 | 0.4 | -17.4 | 9.5 | 14.2 |
Exports of Goods and Services (Annual % Change) | 2.7 | -3.4 | -11.9 | 10.0 | 7.5 |
Imports of Goods and Services (in % of GDP) | 27.1 | 26.8 | 23.2 | 25.0 | 31.5 |
Exports of Goods and Services (in % of GDP) | 27.6 | 27.3 | 27.6 | 31.2 | 33.4 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2024 | 2025 (e) | 2026 (e) | 2027 (e) | 2028 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 3.5 | 3.6 | 3.7 | 3.7 | 3.7 |
Volume of imports of goods and services (Annual % change) | 3.7 | 4.3 | 3.9 | 3.9 | 3.8 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2023 |
China | 11.3% |
United States | 7.5% |
Germany | 6.8% |
Mozambique | 5.6% |
Japan | 5.2% |
United Kingdom | 4.8% |
India | 4.6% |
Netherlands | 3.9% |
Botswana | 3.8% |
Belgium | 3.4% |
Zimbabwe | 3.1% |
Namibia | 3.0% |
Zambia | 2.5% |
United Arab Emirates | 2.3% |
South Korea | 1.9% |
Eswatini | 1.5% |
Spain | 1.4% |
Democratic Republic of Congo | 1.4% |
Hong Kong SAR, China | 1.3% |
Lesotho | 1.2% |
See More Countries | 63.6% |
Main Suppliers (% of Imports) |
2023 |
China | 20.5% |
United States | 8.6% |
Germany | 8.1% |
India | 7.0% |
United Arab Emirates | 3.7% |
Thailand | 3.3% |
Saudi Arabia | 2.9% |
Japan | 2.5% |
Oman | 2.4% |
Italy | 2.2% |
Nigeria | 2.2% |
France | 2.0% |
United Kingdom | 1.7% |
Spain | 1.6% |
Netherlands | 1.5% |
Bahrain | 1.4% |
Brazil | 1.3% |
Eswatini | 1.3% |
Poland | 1.2% |
Malaysia | 1.2% |
See More Countries | 52.1% |
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import-Export Flows.
12.6 bn USD of services exported in 2022 | |
37.71% | |
Personal travelPersonal travel | 31.38% |
OtherOther | 49.79% |
Business travelBusiness travel | 6.34% |
24.78% | |
12.49% | |
9.15% | |
7.51% | |
3.86% | |
1.81% | |
1.65% | |
0.95% | |
0.09% |
18.1 bn USD of services imported in 2022 | |
44.35% | |
19.43% | |
12.24% | |
Personal travelPersonal travel | 9.01% |
OtherOther | 43.40% |
Business travelBusiness travel | 3.24% |
9.46% | |
8.02% | |
2.67% | |
1.70% | |
1.34% | |
0.78% | |
0.02% |
Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: February 2025
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