South Africa's Top Imports & Exports 2008
$4.1 Billion in Precious Metals and Gem Diamonds Exported to U.S.
Oct 8, 2009
Generating a Gross Domestic Product (GDP) valued at US$277.2 billion, South Africa was the world’s 32nd richest country in 2008.
With a population of 49.1 million South Africans who garnered an average GDP of $10,100 per person last year, South Africa placed 104th among all other countries in terms of GDP per capita.
As the world’s 40th biggest exporter, South Africa shipped $86.1 billion worth of exports in 2008. Principal South African exports were gold, diamonds, platinum, other metals and machinery. Based on 2008 statistics, South Africa’s largest export clients were the United States (11.1%), Japan (9.8%), the United Kingdom (9.6%), China (8.7%), Germany (6.8%) and Netherlands (4.1%).
According to the CIA World Factbook, South Africa imported $90.6 billion worth of foreign goods last year. Major commodities imported into South Africa include machinery, chemicals, petroleum, scientific instruments and foodstuffs. Leading suppliers to South Africa were Germany (10.8%), China (10.3%), the United States (7%), Angola (6.8%), Saudi Arabia (5.7%), Japan (4.9%), the United Kingdom (4.8%) and Iran (4.4%).
In total, South Africa’s international trade amounted to $176.7 billion or 63.7% in relation to its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada.
South African Trade with the U.S.
Last year, South African exports to America rose 9.9% to $9.9 billion. Over that same period, South Africa bought $6.5 billion worth of U.S. imports – an increase of 17.6%.
Therefore, South Africa’s trade surplus with the U.S. came to $3.4 billion in 2008.
The lists below present the top 10 exports and imports that American and South African enterprises exchanged in 2008. The fastest-growing trade product categories are also shown.
South Africa’s Top Exports to America
South Africa`s top 10 exports account for 85.8% of all goods shipped to the U.S. in 2008. Precious metals including diamonds represented 40.5% of all South African exports to America last year.
- Other precious metals … US$3 billion, down 21.6% from 2007 (29.8% of US imports from South Africa)
- Passenger cars … $1.8 billion, up 358% (18.2%)
- Unmanufactured steelmaking materials … $1.3 billion, up 70% (12.8%)
- Gem diamonds … $1.1 billion, down 1.1% (10.7%)
- Industrial organic chemicals … $434 million, up 43.8% (4.4%)
- Miscellaneous non-ferrous metals … $366.7 million, up 16.4% (3.7%)
- Other vehicle parts and accessories … $322.3 million, down 21.9% (3.2%)
- Aluminum … $179.6 million, down 47% (1.8%)
- Industrial inorganic chemicals … $119.2 million, down 3.9% (1.2%)
- Numismatic collectible coins … $70 million, up 729% (0.7%).
Fastest-Growing South African Exports to the U.S.
Not only were South African passenger cars a leading export to America last year worth $1.8-billion, that product category posted a hefty 358% gain in sales last year. Six other export classifications showed triple-digit percentage increases, while the remaining 3 had double-digit gains no lower than 71.9%.
- Nuclear fuels … US$66.7 million, up 856.4% from 2007
- Numismatic collectible coins … $70 million, up 729%
- Passenger cars … $1.8 billion, up 358%
- Agricultural machinery and equipment … $2.2 million, up 268.2%
- Specialized mining and oil processing equipment … $4.3 million, up 171.2%
- Oilfield and drilling equipment … $34.2 million, up 170.7%
- Engines and engine parts … $45.3 million, up 112.7%
- Bakery and confectionary products … $5.6 million, up 97.5%
- Toys and sporting goods including bicycles … $4.9 million, up 92.4%
- Computers … $1.4 million, up 71.9%.
South Africa’s Top Imports from America
Both individually and as a group, America’s top 10 exports to South Africa were for relatively smaller amounts than South Africa`s leading 10 exports to the U.S. and come from a wider range of industries. The top 10 American exports account for 40.7% of total South African imports from the U.S.
- Civilian aircraft … US$438.9 million, up 39.9% from 2007 (6.8% of US exports to South Africa)
- Excavating machinery … $352.6 million, up 1.4% (5.4%)
- Materials handling equipment … $344.5 million, up 21% (5.3%)
- Other petroleum products … $271.1 million, up 66.7% (4.2%)
- Telecommunications equipment … $266.4 million, up 37.4% (4.1%)
- Passenger cars … $248.3 million, down 32.2% (3.8%)
- Other industrial machines … $201.5 million, up 26.2% (3.1%)
- Trucks, buses and special purpose vehicles … $192.7 million, up 1.1% (3%)
- Organic chemicals … $169.4 million, down 14.1% (2.6%)
- Specialized mining equipment … $157.8 million, up 89.5% (2.4%).
Fastest-Growing South African Imports from the U.S.
Among U.S. goods delivered to South Africa last year, American shipments of non-monetary gold, rice and vegetables garnered the highest percentages gains.
- Non-monetary gold … US$178.7 million, up 102,613%
- Rice … $9 million, up 1,878%
- Vegetables … $28.1 million, up 1,733%
- Unmanufactured agriculture industry products … $65.3 million, up 626%
- Complete military aircraft … $2 million, up 414.3%
- Metallurgical grade coal … $50.9 million, up 272.1%
- Dairy products and eggs … $12.9 million, up 182.5%
- Numismatic collectible coins … $4.2 million, up 168.5%
- Manufactured tobacco … $1.3 million, up 155.9%
- Marine engines and parts … $13 million, up 120.6%.
Comparative Trade Advantages
During 2008, South Africa exported $1.1 billion worth of South African gem diamonds to the U.S. while importing $116.1 million worth of diamonds from America.
These South African-American trade statistics show that South Africa has comparative advantages over the U.S. in diamond trade between the 2 nations.
On the other hand, America exported $157.8 million worth of specialized mining equipment to South Africa in 2008 contrasted with U.S. imports specialty mining tools from South Africa worth $12.5 million.
That the U.S. exported more than 12 times the value of South African specialized mining equipment clearly shows that America has a comparative advantage in exporting specialty mining tools to its South African trade partner.
Sources
This analysis is based on latest statistics from the US Census Bureau- Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
 |
 |
 |
 |
 |
