Monday, May 9, 2011

International Trade

"Trade (2009): Exports--$71.9 billion; merchandise exports: minerals and metals, motor vehicles and parts, agricultural products. Major markets--China, U.S., Japan, Germany, U.K., Sub-Saharan Africa. Imports--$75.7 billion: machinery, transport equipment, chemicals, petroleum products, textiles, and scientific instruments. Major suppliers--China, Germany, U.S., Saudi Arabia, Japan.
GDP composition (2009): Agriculture and mining (primary sector)--7%; industry (secondary sector)--20%; services (tertiary sector)--73%. South Africa is one of the largest producers of platinum, manganese, gold, and chrome in the world; also significant coal production."

US Department of State


These facts show that South Africa is a country, rich in natural resources, that primarily imports technology based products.  South Africa relies heavily on the most developed nations in the world, including the US, China, and much of Europe. Trade links with countries in Africa are also considered vital to South Africa. The country’s economy is permanently connected to that of the southern African region, and its success is linked to the economic recovery of the continent.
 

"Since 2001, Germany has been South Africa’s largest source of imports, showing annual growth of 18.5% between 2007 and 2008. In 2008, South Africa’s biggest trade partner was the Netherlands."
Economy of South Africa

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