Statistical update on South Africa’s economic sectors

Statistical update on South Africa’s economic sectors

The IDC’s Research and Information Department has released a statistical update of its Sectoral Trends publication for the third quarter of 2012.

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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