More than half of South Africa’s trade is with developed countries, i.e. the EU, Nafta and Japan. Brazil, India and China doubled their exports to South Africa and also increased their share of South Africa’s imports from 8% to 14%. This development is hardly surprising considering that India and China are the fastest-growing economies in world, and have population of more than a billion each. South Africa’s trade still relies on the developed world for markets but is slowly shifting towards developing countries for sources of supply. The domination of the developed world as a supplier is being challenged by middle-income developing countries.
Opportunities for UK Businesses
South Africa is one of the most sophisticated, diverse and promising emerging markets. Strategically located at the tip of the African continent, South Africa is a key investment location, both for the market opportunities that lie within it and for the opportunity that exists to use the country as a gateway to the rest of the continent. South Africa has spent R642-billion on infrastructure development in the past three years – and plans to spend more than R827-billion over the next three years. Opportunities lie within the energy, transport, healthcare, and education sectors.
Visit Export Britain for more information and to find support in this market.