Analysis and Studies - Country Analysis
South Africa: a look at the market
February 22nd 2024
South Africa, officially the Republic of South Africa, is the southernmost country in Africa. It is a middle power in international affairs; it maintains significant regional influence and is also a member of both the Commonwealth of Nations and the G20. It is a developing country, ranking 109th on the Human Development Index, the 7th highest on the continent. South Africa is the only African nation to legislate same-sex marriage. It has been classified by the World Bnak as a newly industrialized country and has the third largest economy in Africa overall, as well as the 39th largest economy in the world. South Africa has the most UNESCO World Heritage Sites in Africa. Since the end of apartheid, government accountability and quality of life have substantially improved. Crime, poverty and inequality remain widespread, with about 40% of the total population being unemployed as of 2021, while about 60% of the population lived under the poverty line.
About economy
South Africa has a mixed economy and It has also the most industrialized and technologically advanced economy; It ha the second largest economy in Africa, after Nigeria and the 39th largest In the world. South Africa is ranked 40th by total Wealth, making it the second wealthiest country in Africa, in terms of private wealth South Africa has a private wealth of $651 billion making south Africa’s population the richest in Africa followed by Egypt with $307 billion and Nigeria with $228 billion.
In October 2023 South Africa exported ZAR161B and imported ZAR183B, resulting in a negative trade balance of ZAR21.3B. Between October 2022 and October 2023 the exports of South Africa have increased by ZAR9.01B (5.91%) from ZAR152B to ZAR161B, while imports increased by ZAR19B (11.6%) from ZAR164B to ZAR183B.
TRADE
In October 2023, the top exports of South Africa were Platinum (ZAR16.1B), Delivery Trucks (ZAR12B), Coal Briquettes (ZAR10.7B), Gold (ZAR9.88B), and Iron Ore (ZAR9.2B). In October 2023 the top imports of South Africa were Refined Petroleum (ZAR31.3B), Commodities not elsewhere specified (ZAR15B), Crude Petroleum (ZAR13.8B), Telephones (ZAR5.39B), and Cars (ZAR5.17B).
ORIGINS
In October 2023 the exports of South Africa were mainly from Durban (ZAR24.9B), O.R. Tambo Int Airport (ZAR24.8B), Richards Bay (ZAR14.8B), Komatipoort (ZAR12.7B), and Sa Reserwebank (ZAR9.88B), while imports destinations were mainly Durban (ZAR90.7B), O.R. Tambo Int Airport (ZAR29.7B), Cape Town (ZAR21B), Port Elizabeth (ZAR11.2B), and East London (ZAR4.53B).
DESTINATIONS
In October 2023, South Africa exported mostly to China (ZAR15.5B), United States (ZAR11.7B), Germany (ZAR11.1B), Mozambique (ZAR11B), and Special Categories (ZAR10B), and imported mostly from China (ZAR31.9B), United States (ZAR17.6B), Germany (ZAR14B), India (ZAR12.4B), and Saudi Arabia (ZAR8.44B).
GROWTH
In October 2023, the increase in South Africa's year-by-year exports was explained primarily by an increase in exports to China (ZAR4.16B or 36.7%), India (ZAR3.46B or 59.1%), and Mozambique (ZAR3.32B or 43.4%), and product exports increase in Delivery Trucks (ZAR5.67B or 89.5%), Chromium Ore (ZAR4.24B or 120%), and Iron Ore (ZAR3.9B or 73.5%). In October 2023, the increase in South Africa's year-by-year imports was explained primarily by an increase in imports from United States (ZAR5.76B or 48.8%), United Arab Emirates (ZAR5.09B or 184%), and Netherlands (ZAR3B or 125%), and product imports increase in Commodities not elsewhere specified (ZAR5B or 50.1%), Refined Petroleum (ZAR2.5B or 8.67%), and Crude Petroleum (ZAR2.39B or 20.9%).
Fonti:
https://oec.world/en
https://data.worldbank.org/
https://www.trademap.org/