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Thursday, 07 July 2016

S.Africa wants to increase exports to India, France

According to Trade and Industry Minister Rob Davies, India is an important trade partner for South Africa, but the trade imbalance with the country needs to be addressed. Statistics indicate that India's exports to South Africa (SA) are estimated at R54 billion, while SA's exports to India are estimated at R 41 billion. “At the moment India is our sixth largest trading partner so it is in fact higher than a number of other traditional trading partners. I think we mentioned before in another context that the UK for example is eighth, so India is very significant. In 2015 our total trade was valued at R 95 billion and that was 4.9 % of SA's imports and 4.1 % of SA's exports and the growth has been quite phenomenal.”

Source: freshplaza.com

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