Breaking News

South Africa's trade grows 10% in the third quarter of the year

by Agencies
19 December 2017 | 325 Views
Cape Town - During the third quarter of 2017, the total import and export container trade market experienced consistent 10% year-on-year growth, a similar result as in previous quarters - which on face value is remarkable growth. The main hallmark of South African container trade at present, however, is less about robust growth and more about volatility.

This is according to Matthew Conroy, Trade Manager of Maersk Line Southern Africa, who points out the other, less positive, perspective on quarter three's trade market development. "While 10% year-on-year growth is encouraging, this is not a true reflection of real growth as, when taking into account the significant container trade market contraction recorded in 2016, this growth is actually only about 2.5% (2017 versus 2015)."

Looking at imports and exports, Conroy says that the two markets are shaping up slightly differently, with exports growing at a faster pace than imports. "Year to date (YTD), 45.3% of the container trade was a result of exports (54.7% imports), which is slightly up from a year ago (44.7%) but well above the 2012 figure of 42.3%. So, there has been a continuing ‘balancing of trade', which is largely due to the increase of export mining commodities (chrome and manganese).

Imports

The import market has grown by 9% YTD, with the majority of this growth coming from Asia (13%), which represents 53% of imports into South Africa. Compared to 2015, 2017 has seen no market growth. The main reason for this volatility is that in 2016, inventory stocks were run very low, whereas in 2017, stocks have been replenished to a higher degree.

Considering the sluggish consumer spending seen in the current market, Conroy suspects that there will be a future slowdown in import market growth. It is likely that the rest of the year will continue at a similar rate as YTD, but 2018 will probably see a slowdown of low single digit growth.




Exports

While the export market has grown by 12% YTD, there has only been 5% since 2015, when taking 2016 into account. Exports have clearly shown steadier growth than imports. The markets to Asia and Middle East are growing at the fastest rate (more than 15%) because of higher demand for mining commodities in India and China, whereas manufactured exports is stagnate.

Reefer exports Refrigerated exports have grown by 9% YTD, but by 14% in the third quarter, which is mostly due to a strong citrus crop, coupled with strong demand overseas for South African fruit.

Outlook for 2017

Regarding expectations going forward, Conroy says that mining commodities should continue to grow, albeit current levels (5%), while refrigerated exports (mostly grapes) will see flat growth.

YTD imports exports

Source: Agencies

Comments

Latest News

Open letter to Innocent Kufa - Dear Sir,      ...

by Gordon W. McFarlane | 23 February 2019 | 11 Views

Mnangagwa's gamble works for the economy - Monetary Policy is defined ...

by Dr Masimba Mavaza | 23 February 2019 | 2 Views

Zimbabwe's rural politics - The vulnerability of Rural Zimbabweans pol...

by Clement Moyo | 23 February 2019 | 4 Views

ZAA International launches Canada Edition

by Agencies | 23 February 2019 | 6 Views

Callistus Ndlovu to be buried today

by Staff rpeorter | 23 February 2019 | 7 Views

Chamisa snubs Mnangagwa indaba, again

by Staff reporter | 23 February 2019 | 4 Views

Cop faces 3 counts of criminal abuse of office - An Odzi police office...

by Staff reporter | 23 February 2019 | 1 Views

Ex-Zanu-PF MP in court over $9 000 debt - Former Zanu PF Mbire legisla...

by Staff reporter | 23 February 2019 | 6 Views

Mnangagwa solidarity march flops

by Staff reporter | 23 February 2019 | 1 Views

Can Zimbabwe learn from history, the pain of yesteryear? - CENTRAL ban...

by Editorial - newsday | 23 February 2019 | 4 Views

Shamed cheat commits suicide - A 41-YEAR-OLD married Shamva woman comm...

by Staff reporter | 23 February 2019 | 5 Views

Man found with live pangolins in bedroom - A BULAWAYO man has been arr...

by Staff reporter | 23 February 2019 | 7 Views

On the run MDC MPs, not on the run, says MDC

by Staff reporter | 23 February 2019 | 1 Views

Ex-cop sues Mathema, Matanga for contempt of court - A FORMER police o...

by Staff reporter | 23 February 2019 | 5 Views

Seven key PSL venues, including Rufaro condemned

by Staff reporter | 23 February 2019 | 1 Views

Zimbabwe lost $2 billion on 1:1 forex exchange rate

by Staff reporter | 22 February 2019 | 86 Views

Abusive Zanu-PF councillor sets wife alight - Zanu-PF Ward 9 councillo...

by Staff reporter | 22 February 2019 | 97 Views

Chamisa cries as his political career ends

by Dr Masimba Mavaza | 22 February 2019 | 462 Views

'Chamisa, Mnangagwa power-sharing not on the agenda'

by Staff reporter | 22 February 2019 | 68 Views

Ginimbi to 'tour' Australia

by Staff reporter | 22 February 2019 | 101 Views

Fake news rocks Zimbabwe military - Zimbabwe National Army has disowne...

by Staff reporter | 22 February 2019 | 215 Views

Caps United avert player strike over unpaid dues - HARARE giants Caps ...

by Staff reporter | 22 February 2019 | 36 Views

Mnangagwa courts Chinese

by Staff reporter | 22 February 2019 | 79 Views

Zimbabwe/South Africa officials to meet ahead of Ramaphosa visit

by Staff reporter | 22 February 2019 | 60 Views

MDC Alliance members run away with ballot papers - DIVISIONS in the MD...

by Staff reporter | 22 February 2019 | 102 Views

Woman arrested for obscene message to lover's wife - A 28-YEAR-OLD wom...

by Staff reporter | 22 February 2019 | 105 Views

Bulawayo takes deliberate affirmative action policy

by Staff reporter | 22 February 2019 | 47 Views

Two stabbed, axed in gold rush - AN illegal gold panner from Plumtree ...

by Staff reporter | 22 February 2019 | 47 Views

Bosso zero in on three for captaincy - HIGHLANDERS' technical bench ha...

by Staff reporter | 22 February 2019 | 28 Views

Entertainment

TinTin suffers mental illness scare

by Mandla Ndlovu | 19 February 2019 | 4134 Views

Bulawayo artiste blasts Mnangagwa - BULAWAYO artiste Njabulo "SizFire"...

by Staff reporter | 18 February 2019 | 609 Views

Jabu features in nasty indecent tape - Studio 263 actor Jabu (real nam...

by Staff reporter | 18 February 2019 | 1471 Views

Omkhula lament lack of arts promoters in Zimbabwe

by Staff reporter | 17 February 2019 | 1057 Views

'Bulawayo artistes more popular outside Zimbabwe'

by Staff reporter | 17 February 2019 | 879 Views

Sex makes Zodwa Wabantu fat

by Staff reporter | 17 February 2019 | 3419 Views

HIFA 2019 cancelled

by Mandla Ndlovu | 15 February 2019 | 764 Views

WATCH: Jah Prayzah and Misred drop Kunerima video

by Mandla Ndlovu | 12 February 2019 | 5538 Views
iBlog

Hp Omen 15-5116tx – The Next Generation Gaming Laptop

the hp omen 15-5116tx is being targeted at the performance hungry gamers. it comes in a single variant boasting an eye-catching attractive design. the notebook offers a slim, lightweight chassis and appears like a piece of art than an actual gaming... Read More
Sergey 11 June 2015 ago

Apple Watch Teardown Reveals Unique Hardware And Replaceable Parts

The apple watch may not be fine jewelry, but bill detwiler cracks it open and shows you why he thinks it's a fine piece of tech. the apple watch may be beautiful on the outside, but how about on the inside? in this cracking open installment, we go in... Read More
Sergey 11 June 2015 ago