China takes top spot in 2009 SA export stakes

DESPITE the global recession, South Africa’s foreign trade with Asia remains robust and China is now the number one export destination after being fifth a year ago. It replaces the United States, which moves into second place.

Updated data from the Department of Trade and Industry (DTI) shows that for the first half of 2009, China is the number one export destination with annual growth of a stellar 53,9 per cent, while the US has seen an annual decrease of 42,6 per cent in exports. China takes 11,9 per cent of the total market, the US 8,3 per cent and Japan 7,5 per cent.In 2008, Japan, the United States, and Germany were, in descending order, the country’s top export markets according to customs data, while top import markets were Germany, China, and the US.China is now the biggest import market, pipping Germany, according to the latest DTI statistics.Trade in South Africa has picked up markedly over the past decade. In 1998 exports only added up to N$144,9 billion and they ended 2008 at a very healthy N$663,099 billion by comparison, although an overall deficit of N$64.5 billion was seen.South Africa’s bulk export volumes have surprised once again as they surged 29,01 per cent year-on-year (y/y) in August from the whopping 36,82 per cent jump in July, data supplied by the National Ports Authority of South Africa shows.The current recession, though, has crimped back strongly on the level of trade, and exports are down 19,2 per cent y/y (July data). However, the fall in imports has exceeded this at 24,3 per cent y/y.-I-Net Bridge

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