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Thursday, 13 September 2012

EU27 sees growing surplus in trade with South Africa

In the light of the fifth EU - South Africa summit, which is to take place next week in Brussels, Eurostat, the statistical office of the European Union has issued data on trade and investments between South Africa and the EU. After the decline in EU27 trade in goods with South Africa observed in 2009, both exports and imports recovered in 2010 and 2011, although imports grew at a slower pace.
The value of EU27 exports to South Africa reached a peak of 26.6 billion euro in 2011, while imports rose to 20.5 bn, still not reaching the level recorded in 2007. As a result, EU27 trade with South Africa registered a surplus of 6.1 bn in 2011, compared with +1.4 bn in 2010 and -3.1 bn in 2009.
The first half of 2012 showed a decrease in EU27 trade with South Africa, compared with the first half of 2011. Exports fell slightly from 13.2 bn in the first half of 2011 to 13.0 bn in the first half of 2012, and imports more significantly from 10.5 bn to 9.7 bn. As a result, the EU27 surplus in trade of goods with South Africa increased from 2.7 bn in the first half of 2011 to 3.4 bn in the same period of 2012. South Africa accounted for around 1.4% of the EU27's international trade in goods.
Germany largest EU27 exporter to South Africa, and the United Kingdom largest importer
Among the EU27 Member States, Germany (4.3 bn euro or 33% of EU27 exports) was by far the largest exporter to South Africa in the first half of 2012, followed by the United Kingdom (1.9 bn or 14%), the Netherlands (1.3 bn or 10%) and France (1.0 bn or 8%). The United Kingdom (2.9 bn or 30% of EU27 imports) was the largest importer, followed by Germany (2.0 bn or 21%), the Netherlands1 (1.2 bn or 12%) and Italy (1.0 bn or 11%). The highest surpluses in trade with South Africa in the first six months of 2012 were observed in Germany (+2.3 bn) and France (+0.7 bn), and the largest deficit in the United Kingdom (-1.1 bn).

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