South Africa
Africa
Trade in South Africa
| South Africa was the world’s 39th largest exporter of goods and 56th largest exporter of commercial services in 2022. Export values were $122.90 billion and $12.59 billion USD respectively. South Africa’s top export category was Fuels and mining products, followed by Manufactures, and Machinery and transport equipment. In 2022, South Africa’s main export destination markets for goods and services trade were to China, United States and Germany, with trade representing 65.06 per cent of GDP. In terms of imports, South Africa is the world’s 40th largest importer of goods and 51st largest importer of commercial services. Import values were $136.21 billion and $18.10 billion USD respectively in 2022. South Africa’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were China, Germany and United States. South Africa is part of 7 different Regional Trade Agreements, including EFTA – SACU and EU – SADC. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of South Africa |
Abbreviation |
ZA |
Capital |
Pretoria |
WTO Membership Date |
1 January 1995 |
Legal System |
mixed legal system of Roman-Dutch civil law, English common law, and customary law |
Language |
Afrikaans, English, Ndebele, Sesotho, Sesotho sa Leboa, Siswati, Tsonga, Setswana, Venda, Xhosa, Zulu |
Number of Time Zone(s) |
2 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
South African rand |
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Exchange Rate |
Google Finance Currencies |
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GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://www.sars.gov.za/customs-and-excise/tariff/ |
Trade Information Portal |
http://www.thedtic.gov.za/sectors-and-services-2/1-4-2-trade-and-export/ |
Last Reviewed: June, 2024
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Resources related to South Africa
View ResourceMSMEs, value chains and trade development in Southern Africa Case studies from selected countries
This study analyzes how Southern African micro-, small, and medium sized enterprises (MSMEs) are using innovations and technologies to integrate themselves into value chains and better utilize trade agreements.
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Free Trade Deal Boosts Africa’s Economic Development
A World Bank study, released in collaboration with the AfCFTA Secretariat, accounts for the additional benefits that would accrue from an increase in foreign direct investment (FDI) – both from within and outside of Africa – that the deal is expected to generate.
- View Resource
Trade Facilitation and Gender Dimensions in South Africa
To identify specific challenges that men and women face in cross-border trade and determine where further reforms can be made, the World Bank Group completed a study on Trade Facilitation and Gender Dimensions in South Africa. Traders, customs brokers and freight forwarders were interviewed.
