South Africa2021 Economic Complexity Trade : 0.098, Rank 59 of 131
2021 Economic Complexity Technology : 0.93, Rank 24 of 96
2021 Economic Complexity Research : 1.23, Rank 21 of 140
2021 Product Exports | Imports: $143B | $96.7B, 34 of 226 | 43 of 226
2021 Per Capita Product Exports | Imports: $2.39k | $1.61k, 91 of 219 | 130 of 219
Overview In 2021, South Africa was the number 31 economy in the world in terms of GDP (current US$), the number 34 in total exports, the number 43 in total imports, the number 85 economy in terms of GDP per capita (current US$) and the number 59 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of South Africa are Platinum ($24.5B), Gold ($20.1B), Iron Ore ($7.68B), Diamonds ($7.02B), and Coal Briquettes ($6.72B), exporting mostly to China ($20.6B), United States ($14B), Germany ($10.4B), United Kingdom ($10.1B), and India ($9.5B).
In 2021, South Africa was the world's biggest exporter of Platinum ($24.5B), Manganese Ore ($2.9B), Chromium Ore ($1.83B), Precious Metal Ore ($1.78B), and Titanium Ore ($501M)
Imports The top imports of South Africa are Refined Petroleum ($7.85B), Crude Petroleum ($5.42B), Motor vehicles; parts and accessories (8701 to 8705) ($3.44B), Cars ($3.25B), and Broadcasting Equipment ($2.43B), importing mostly from China ($20.5B), Germany ($8.89B), India ($6.01B), United States ($5.2B), and Saudi Arabia ($4.16B).
In 2021, South Africa was the world's biggest importer of Documents of title (bonds etc) and unused stamps ($546M) and Metallic Fabric ($3.46M)
Location South Africa borders Botswana, Lesotho, Mozambique, Namibia, Eswatini, and Zimbabwe by land.
March, 2023
Overview In March 2023 South Africa exported ZAR184B and imported ZAR185B, resulting in a negative trade balance of ZAR961M. Between March 2022 and March 2023 the exports of South Africa have increased by ZAR4.39B (2.44%) from ZAR180B to ZAR184B, while imports increased by ZAR45.2B (32.2%) from ZAR140B to ZAR185B.
Trade In March 2023, the top exports of South Africa were Platinum (ZAR19.6B), Gold (ZAR14.8B), Coal Briquettes (ZAR13.1B), Iron Ore (ZAR11.5B), and Ferroalloys (ZAR9.81B). In March 2023 the top imports of South Africa were Refined Petroleum (ZAR30.2B), Commodities not elsewhere specified (ZAR13.5B), Crude Petroleum (ZAR11.9B), Cars (ZAR9.13B), and Telephones (ZAR5B).
Origins In March 2023 the exports of South Africa were mainly from O.R. Tambo Int Airport (ZAR33B), Durban (ZAR26.2B), Richards Bay (ZAR20.6B), Sa Reserwebank (ZAR14.8B), and Komatipoort (ZAR13.2B), while imports destinations were mainly Durban (ZAR97.8B), O.R. Tambo Int Airport (ZAR29.9B), Cape Town (ZAR15.5B), Port Elizabeth (ZAR11.1B), and East London (ZAR4.84B).
Destinations In March 2023, South Africa exported mostly to China (ZAR20B), Special Categories (ZAR14.9B), United States (ZAR14.2B), Germany (ZAR12.3B), and Japan (ZAR11.9B), and imported mostly from China (ZAR34.3B), Germany (ZAR14.9B), United States (ZAR14.1B), India (ZAR12.8B), and Nigeria (ZAR7.88B).
Growth In March 2023, the increase in South Africa's year-by-year exports was explained primarily by an increase in exports to Special Categories (ZAR8.24B or 125%), China (ZAR3.08B or 18.2%), and Belgium (ZAR2.59B or 69%), and product exports increase in Gold (ZAR8.26B or 127%), Ferroalloys (ZAR4.8B or 95.8%), and Delivery Trucks (ZAR3.12B or 64.6%). In March 2023, the increase in South Africa's year-by-year imports was explained primarily by an increase in imports from China (ZAR8.93B or 35.2%), Nigeria (ZAR5.01B or 175%), and Germany (ZAR4.71B or 46%), and product imports increase in Refined Petroleum (ZAR10.7B or 55.1%), Crude Petroleum (ZAR4.18B or 54%), and Cars (ZAR4B or 77.9%).
EXPORT GROWTH (March 2022 - March 2023): ZAR4.39B, (2.44%)
IMPORT GROWTH (March 2022 - March 2023): ZAR45.2B, (32.2%)
MAIN EXPORTER (March 2023): O.R. Tambo Int Airport, ZAR33B
MAIN DESTINATION (March 2023): China, ZAR20B
This section shows exports and imports data at subnational level for South Africa. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of South Africa over time.
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In 2021, South Africa exported a total of $143B, making it the number 34 exporter in the world. During the last five reported years the exports of South Africa have changed by $44.6B from $98.8B in 2016 to $143B in 2021.
The most recent exports are led by Platinum ($24.5B), Gold ($20.1B), Iron Ore ($7.68B), Diamonds ($7.02B), and Coal Briquettes ($6.72B). The most common destination for the exports of South Africa are China ($20.6B), United States ($14B), Germany ($10.4B), United Kingdom ($10.1B), and India ($9.5B).
*Disclaimer:
Fastest Growing Export Markets (2020 - 2021)
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South Africa Exports Services (2018): $14.5B
South Africa Imports Services (2018): $15.6B
In 2018, South Africa exported $14.5B worth of services. The top services exported by South Africa in 2018 were Travel ($8.84B), Transportation ($2.18B), Other business services ($2.1B), Computer and information services ($622M), and Government services, n.i.e. ($367M).
The top services imported by South Africa in 2018 were Transportation ($6.73B), Travel ($3.35B), Other business services ($2.08B), Royalties and license fees ($1.79B), and Computer and information services ($1.24B).
South Africa has a high level of specialization in Chromium Ore (102), Manganese Ore (61.8), Granulated Slag (39.8), Platinum (39.7), and Niobium, Tantalum, Vanadium and Zirconium Ore (32.8). Specialization is measured using RCA, an index that takes the ratio between South Africa observed and expected exports in each product.
The highest complexity exports of South Africa according to the product complexity index (PCI) are Hydrides, nitrides, azides, silicides and borides, whether or not chemically defined, other... (1.57), Nickel; plates, sheets, strip and foil (1.35), Ketones and quinones; whether or not with other oxygen function, and their... (1.34), Acids; unsaturated acyclic monocarboxylic, cyclic monocarboxylic, their anhydrides, halides, peroxides and peroxyacids;... (1.3), and Stainless steel; flat-rolled products of width of 600mm or more (1.02). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for South Africa according to the relatedness index, were Raw Cotton (0.23), Crude Petroleum (0.23), Petroleum Gas (0.22), Uranium and Thorium Ore (0.21), and Other Ores (0.21). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that South Africa is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years South Africa's economy has become relatively less complex, moving from the 29th to the 59th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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