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Monday, 22 July 2013

EU: Surplus in international trade with South Africa of €6 bn

In 2012, the European Union (EU27) had a surplus in trade in goods with South Africa in value of 6.1 bn, compared with 1.3 bn in 2010, and 4.4 bn in 2011. The exports reached a peak of 26.6 bn, while imports were situated at a level of 20.5 bn. This data was released shortly before the sixth European Union - South Africa summit, which took place on 18 July 2013 in Kliptown, Soweto in South Africa.
Among the EU27 Member States, Germany (8.8 bn euro or 33% of EU27 exports) was by far the largest exporter to South Africa in 2012, followed by the United Kingdom (4.1 bn or 16%), the Netherlands (2.5 bn or 9%) and France (2.0 bn or 7%). The United Kingdom (7.5 bn or 36% of EU27 imports) was the largest importer, followed by Germany (4.1 bn or 20%), the Netherlands2 (2.2 bn or 11%) and Belgium (1.9 bn or 9%).
Also the Exports of services between the EU27 and South Africa have increased, but only slightly in 2011 compared with 2010, while imports fell. In 2011, the EU27 exported 7.1 bn euro of services to South Africa, while imports amounted to 4.5 bn. As a result, the EU27 recorded a surplus of 2.6 bn in trade in services with South Africa in 2011, compared with a surplus of 2.2 bn in 2010 and of 1.9 bn in 2009. South Africa accounted for just over 1% of extra-EU27 international trade in services in 2011.
However, EU27 foreign direct investments in South Africa have plummeted in the last years,  standing at 1.5 bn euro in 2011, compared with 7.1 bn in 2010 and 10.8 bn in 2009.

Source: Eurostat

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