CHINA is South Africa’s largest trading partner, both overall and within the BRICS (Brazil, Russia, India, China and South Africa) grouping.
In 2022, China accounted for 9.4% of South Africa’s exports and 20.2% of South Africa’s imports, according to the South African Revenue Service (Sars).
In rand terms, exports to China totalled R188.4 billion, while South Africa imported R367.4bn, resulting in a trade surplus in favour of China worth R179bn.
South Africa’s exports to China are dominated by two categories, namely mineral products, as well as products of iron and steel.
Mineral products are raw materials. In the case of exports to China, this is dominated by iron ore, but also includes coal, manganese and chrome ores, as China is the world’s largest producer of steel, accounting for 57.4%…