South Africa's Top Imports And Exports

South Africa is located on the southern tip of the African continent. It shares borders with Botswana, Namibia and Zimbabwe to the north, and Mozambique and Eswatini to the east. South Africa attained majority rule on 27 April 1994 after minority rule. South Africa is rich in natural resources and is the world's biggest producer of gold, platinum, chrome, and manganese. It achieved universal primary education with a 98.54 percent Primary enrolment rate in 2018.

Agriculture contributes about 1.9 percent of the country's GDP and employs 5 percent of workforce. South Africa is a popular tourist destination, and a substantial amount of revenue comes from tourism. The economy has grown at a decelerated rate in recent years. With the commencement of the African Continental Free Trade Area, South Africa is set to be the main beneficiary.

South Africa's biggest export products by value in 2020 were platinum, gold, iron, cars, and coal. 60.8 percent of products exported from South Africa were bought by importers in China. Given South Africa's population of 59.7 million people, its total 86.1 billion dollars in 2020 exports translates to roughly 1,450 dollars for every resident. South Africa's top 10 exports accounted for over three quarters or 76.2 percent of the overall value of its global shipments. Gems and precious metals was the fastest grower among the top 10 export categories. South Africa's total exported goods represent 12.1 percent of its overall Gross Domestic Product for 2020.

South Africa imported 69 billion dollars worth of goods from around the world in 2020. That dollar value reflects a minus 8.2 percent decrease over the 5 year period starting in 2016. 46.4 percent of South Africa's total imports by value in 2020 were purchased from Asian countries. South Africa's top 10 imports accounted for almost three fifths or 58.9 percent of the overall value of its product purchases from other countries. The sole gain from 2019 to 2020 belongs to miscellaneous chemicals thanks to its 4.5 percent increase. South Africa's biggest decliners were imported vehicles via a minus 37.1 percent drop.

SOURCE: https://bigmanbusiness.com/675/south-...





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