Intra-regional trade is on the increase with at least three African countries among the Western Cape’s top ten export markets. “In the Western Cape last year our top export markets included Malaysia and Singapore, but this picture is changing quickly,” said Jacyntha Twynam, head of Wesgro Research. “This year we see Malaysia is no longer in the top ten, but instead we have Mozambique in the top five.” Angola and Kenya are also in the top ten. “The Western Cape exports 25.3% of its total goods to Africa, making Africa the second biggest export destination for the province after Europe,” said Twynam. “We have seen 148% year on year growth in business with Mozambique, 11% for Angola and 64% for Kenya. This is a clear indication that African markets are expanding and that we are increasingly seeing the potential of trading with the continent.” Twynam said the Western Cape had experienced a trade deficit with Africa mostly due to the import of crude petroleum and oil products over the past few years. “But exports into Africa have been growing. In 2013 we saw growth of around 34% which is very encouraging.” INSERT 34% Western Cape's growth in exports to Africa in 2013.
