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In 2018, South Africa exported and imported goods to and from the rest of Africa to the value of US$25 billion and US$11.5 billion, respectively. Intra-Africa exports account for 26% of South Africa's total exports and imports for 12% of total imports for 2018. South African exports to the rest of Africa are predominantly of value-added goods.
The economy of South Africa is a mixed economy, emerging market, and upper-middle-income economy, one of only eight such countries in Africa. [25] [26] [27] The economy is the most industrialised, technologically advanced, and diversified in Africa. [28] Following 1996, at the end of over twelve years of international sanctions, South Africa's ...
South Africa is the EU's largest trading partner in Southern Africa and has a FTA with the EU. South Africa's main exports to the EU are fuels and mining products (27%), machinery and transport equipment (18%) and other semi-manufactured goods (16%). However they are growing and becoming more diverse.
Mining contributed nearly 60% of South Africa exports, amounting to about $30 billion in the first half of 2023, according to the South African Revenue Service. It also employs more than 470,000 ...
Despite declining production, South Africa's gold exports were valued at US$3.8 billion in 2005. [24] As of end-2018, South Africa had a potential 6000 tonnes of reserves. [25] In July 2018, the Mineral Council of South Africa announced that 75% of mines in South Africa were now unprofitable due to the declining gold reserves. [26]
The UK was the top recipient of South African exports in 2001 and 2002 but dropped to fourth-largest by 2008. Exports from South Africa to the UK are dominated by precious stones, mineral products, vehicles (including vessels), machinery and mechanical products, fruit and vegetables, base metals and articles, prepared foodstuffs and beverages.
The modern automotive industry in South Africa was launched in 1995 and has since provided a large number of exports. It has motivated global motor vehicle manufacturers to grant production contracts to South African factories. Companies producing in South Africa can take advantage of the low production costs and the access to new markets as a ...
South Africa is the economic nucleus of Africa the country's economy is the most industrialized and technologically advanced in Africa respectively, [254] and has the largest economy in Africa. It also has a relatively high gross domestic product (GDP) per capita compared to other countries in sub-Saharan Africa US$16,080 at purchasing power ...