INTERNATIONAL TRADE WITH
SOUTH AFRICA
Brief Economic Outlook:
South Africa, officially the Republic of South Africa (RSA) is the southernmost country in Africa. With a population of 59 million people, it is world's 24th most popular nation. The country has three capital cities: Executive in Pretoria; Judicial in Bloemfontein; and Legislative in Cape Town. The largest city is Johannesburg. The country is bounded to the south by the coastline of South Atlantic and Indian Oceans; to the north by the Republics of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini (formally Swaziland) ; and it surrounds the enclaved country of Lesotho.
South Africa is a multi-ethnic society with about 80 % of its people from Black African ancestry, divided among a variety of ethnic groups speaking different African languages. The official languages are English, Africaan, Tswana, and more than 9 other languages spoken by different ethnic groups. The currency is South Africa rand (Zar), is used for daily business transactions. Major international Banks are readily available for foreign exchange business transactions.
The United States goods and services trade with South Africa is estimated at about USD $19 billion annually.
The country was ranked as the 42nd largest export market for U.S. goods and services in 2018. Agriculture, Precious Metals, Aluminum, and Iron steel are the main economic drivers and sources of foreign exchange and revenue. The country is growth and business oriented, with stable economic environment conducive to export/import business transactions.
Profits can easily be repatriated without any restrictive government regulations.
South Africa, officially the Republic of South Africa (RSA) is the southernmost country in Africa. With a population of 59 million people, it is world's 24th most popular nation. The country has three capital cities: Executive in Pretoria; Judicial in Bloemfontein; and Legislative in Cape Town. The largest city is Johannesburg. The country is bounded to the south by the coastline of South Atlantic and Indian Oceans; to the north by the Republics of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini (formally Swaziland) ; and it surrounds the enclaved country of Lesotho.
South Africa is a multi-ethnic society with about 80 % of its people from Black African ancestry, divided among a variety of ethnic groups speaking different African languages. The official languages are English, Africaan, Tswana, and more than 9 other languages spoken by different ethnic groups. The currency is South Africa rand (Zar), is used for daily business transactions. Major international Banks are readily available for foreign exchange business transactions.
The United States goods and services trade with South Africa is estimated at about USD $19 billion annually.
The country was ranked as the 42nd largest export market for U.S. goods and services in 2018. Agriculture, Precious Metals, Aluminum, and Iron steel are the main economic drivers and sources of foreign exchange and revenue. The country is growth and business oriented, with stable economic environment conducive to export/import business transactions.
Profits can easily be repatriated without any restrictive government regulations.
Export Market
|
The export market potential for United States Industrial and Consumer products for South African markets are unlimited. The country is also a beneficiary of the United states's Growth and Opportunity Acts, which boosted and fostered business relations between both countries. According to the Department of Commerce, U. S. export of goods and service to South Africa created over
46 thousands Jobs in the 2018. Some of the estimated goods and service exported to South Africa include, but are not limited to : . Industrial Machinery......$2 billion Vehicles....................$700 million . Mineral Fuel .......$500 million Electrical Equipment.....$300 million . Agricultural Products ...$300 million Technology Services.....$3 billion . Aircraft Spare Parts....$300 million Transportation .....$200 million United states import mostly Processed Food, Tree Nuts, Fresh Fruits and Vegetables from South African, with estimated an annual expenditure of about $8 billion resulting in trade surplus of estimated at $2 billion. |
Contact Us |
In light of above market potential for United States export products and services
to South Africa, if you are interested in Investments and exploring Export business opportunities, please contact our International Trade Representative at: COLLINGS CONTRACTING TECHNOLOGIES, LLC Tel: 856-963-6800 ; Email: [email protected] We will be sure to get back to you at our earliest convenient time. Thanks for your interest. <<<<Back-To-Home Contact US>>> |