South Africa’s Top Trading Partners

In 2023, South Africa’s top trading partners include China, the United States, Germany, Japan, Mozambique, the UK, India, the Netherlands, Botswana, and Belgium.

Located in the southernmost part of Africa, South Africa is:

• the largest economy in Africa
• the 40th largest economy worldwide

South Africa shares a land border with Namibia, Botswana, and Zimbabwe to the North and Mozambique and Eswatini to the east and northeast, respectively. It is also bordered to the south by the South Atlantic and the Indian Ocean.

Situated in Southern Africa, South Africa, in 2023, shipped $110.9 billion worth of goods worldwide.

From a continental view, 34% of South African goods exported went to Asian countries and 29% to fellow African buyers. Furthermore, it shipped another 26% and 9% of its exports to its key trading partners in Europe and North America, respectively.

Since South Africa has about 64.1 million people, $110.9 billion in exports in 2023 is about $1730 for everyone in the country.

South Africa’s Top Exports 2023

The following export product groups represent the highest dollar value in South African exports 2023.

• Gems, precious metals ($19.5 billion): One of the world’s largest producers and exporters of gold.
• Ores, slag, and ash ($16.3 billion): Key producer and exporter of manganese ore in steelmaking and battery manufacturing.
• Vehicles ($12.7 billion): Exporters of cars mainly to Europe and other African countries.
• Mineral fuels ($11.9 billion): Refined petroleum products derived from crude oil and coal liquefaction.
• Iron & Steel ($6.5 billion): Processed metals, including steel, are exported for construction and manufacturing.

South Africa’s Main Industries

Mining, automobile manufacturing, machinery, textiles, iron and Steel, chemicals, fertilizer, foodstuffs

Trade Organizations

• World Trade Organization: This organization provides South Africa with a platform for multilateral trade, dispute resolution, and policy influence on global trade issues.
• Southern African Development Community: facilitating more straightforward trade between Southern African nations.
• African Continental Free Trade Area: This agreement allows South Africa to access a market of over 1.3 billion people across Africa, enhancing its export potential and fostering economic growth in the continent.
• African Union: Promotes economic integration, political stability, and social development and supports the AFCFTA as a key initiative.
• BRICS (Brazil, Russia, India, China, South Africa): Enhance trade, investment, and cooperation between member states. South Africa’s membership is pivotal for fostering trade between Africa and other developing economies.
• Bilateral Trade Agreements: South Africa has bilateral agreements with several countries to improve trade relations, such as:
  • South Korea: Trade agreements to boost commerce and investment.
  • China: Strong trade relations with agreements to expand economic ties.
  • India: Bilateral agreements aimed at enhancing trade and investment flows.

Read: Egypt’s Top Trading Partners 2023

South Africa’s Top Trading Partners 2023

Below is a list showing 10 of South Africa’s top trading partners. These countries imported the most South African shipments by dollar value during 2023.

• China ($12.5 billion): South Africa exports minerals, metals, and machinery to China.
• United States ($8.4 billion): The US imports platinum, gold, and machinery from South Africa.
• Germany ($7.8 billion): Major exports to Germany include vehicles, machinery, and chemicals.
• Mozambique ($6.2 billion): Major exports to Mozambique include machinery and vehicles.
• Japan ($5.8 billion): Significant exports to Japan include platinum, vehicles, and machinery.
• United Kingdom ($5.3 billion): Major exports include gold, diamonds, and machinery.
• India ($5.04 billion): A growing market for South African exports, especially minerals and agricultural products.
• The Netherlands ($4.3 billion): Exports to the Netherlands include chemicals, machinery, and mineral products.
• Botswana ($4.2 billion): Major exports are mainly machinery, vehicles, and minerals
• Belgium ($3.7 billion): A European market for South African products, especially diamonds and minerals.

Companies Servicing South Africa’s Top Trading Partners

• Aspen Pharmacare Holdings (pharmaceuticals)
• Bidvest Group (industrial conglomerate)
• MTN Group (telecommunications)
• Naspers (broadcasting, cable)
• Remgro (industrial conglomerate)
• Sasol (diversified chemicals)
• Steinhoff International (furniture)