Share

Davies: SA, China trade swells to R270bn

Cape Town - South Africa's bilateral trade with China grew by almost a third between 2012 and last year, says Trade and Industry Minister Rob Davies.

In a written reply to a parliamentary question on Wednesday he said China had been the country's single largest trading partner since 2009.

"Two-way trade between South Africa and China continues to grow... [it] increased from R205bn in 2012 to R270bn at the end of 2013; a 32% increase."

The trade balance favoured China.

"South Africa's trade deficit with China [increased] from R36bn in 2012 to R38bn [last year]."

Davies said the composition of the bilateral trade remained a concern for South Africa.

"Over 90% of South Africa's top 10 exports to China are in raw materials, while 100% of our top 10 imports from China are manufactured products."

Both countries had recognised that this was not sustainable.

"There is indeed scope to expand South Africa's exports to China in value-added manufactured products."

Davies said Chinese investments in South Africa continued to grow.

"Between January 2003 and January [this year], a total of 38 FDI [foreign direct investment] projects were recorded. These projects represent a total capital investment of R13.33bn, which is an average investment of R350.48m per project.

"During the period, a total of 10 992 jobs were created," he said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.80
+1.1%
Rand - Pound
23.49
+1.3%
Rand - Euro
20.10
+1.5%
Rand - Aus dollar
12.28
+1.0%
Rand - Yen
0.12
+2.8%
Platinum
923.40
-0.2%
Palladium
957.50
-3.3%
Gold
2,336.75
+0.2%
Silver
27.20
-0.9%
Brent-ruolie
89.01
+1.1%
Top 40
69,358
+1.3%
All Share
75,371
+1.4%
Resource 10
62,363
+0.4%
Industrial 25
103,903
+1.3%
Financial 15
16,161
+2.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders