Statistical update on South Africa’s economic sectors

The Industrial Development Corporation’s Research and Information Department has released the latest statistical update of its regular publication entitled Sectoral Trends: Performance of the primary and secondary sectors of the South African economy.

Among its highlights, South Africa’s merchandise exports to the 17 members of the Eurozone declined by 3.9% to R55.5 billion in the first half of 2012 (H1 2012) on a year-on-year basis (y/y), with the largest contraction in value terms recorded for Germany at almost R3.3 billion (or -15.1% to R18.3 billion). Exports destined for the recession-hit countries on the monetary union’s periphery also shrank, specifically Portugal (-27.7% to R308 million), Greece (-16.6% to R268 million), Spain (-5.3% to just under R4 billion) and Italy (-5.2% to R6.1 billion). The value of exports to the European Union (EU) as a whole declined by 2.6% y/y to approximately R73.6 billion in H1 2012.

There was, however, significant growth in exports to certain regions, particularly the Middle East (25.4% growth), Africa (+20.3%) and the Americas excluding NAFTA (+18.1%). However, the Middle East and the Americas (excluding NAFTA) still claim relatively small shares of South Africa’s export basket.

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