South Africa has enjoyed a trade surplus with the European Union (EU) for the past decade, with small deficits in 2021 and 2022, according to European Commission figures. Export volumes peaked in 2019 at $29bn, declining to $21.7bn in 2024, the United Nations COMTRADE database reveals. Imports from the EU peaked in 2013, at $32bn. In that year SA exports to Europe were worth just $19bn – resulting in a trade deficit of $13bn. In 2024, South Africa recorded an $8.3bn deficit in its trade with the EU – with imports from the bloc at $295bn and exports 21.2bn. To put the trade numbers in context, South Africa is ranked 25th as an EU trade partner, representing 0.9% of total EU trade. SA is the EU’s biggest trading partner in sub-Saharan Africa. EU investment in SA amounted to €38.2bn (R785bn) in 2023 – representing 25% of EU investment in sub-Saharan Africa, according to the EU Commission. Leading South African exports include agricultural products, minerals, manufactured goods and wines. Most under pressure is the South African automotive sector, as three out of every four vehicles exported from South Africa in 2024 went to Europe, according to naamsa/The Automotive Business Council. This ratio will increase following the imposition of a 30% trade barrier into the United States market by President Donald Trump. The automotive exports are threatened by the EU decision to effectively ban the sale of new petrol and diesel cars from 2035. A 2023 EV White Paper published by the Department of Trade, Industry and Competition says the move to electric vehicles “poses a potential existential crisis for the South African automotive industry and simultaneously creates significant opportunities for deepening the value chain”. Automotive exports reached $5.64bn in 2024, accounting for 22% of bilateral trade. The EU is also a key market for SA agricultural exports. In 2024, it was South Africa’s third-largest agricultural market, with a share of 19%. Citrus, grapes, wines, dates, avocados, pineapples, fruit juices, apples and pears, berries, apricots and cherries, nuts and wool were amongst Export volumes declining August 2025 Europe 5SUBSCRIBE FREE FN25D0417S Hamburg, Germany your strategic gateway to Europe and Africa. www.transworldcargo.net SA TOP 10 EXPORTS TO EUROPE 2024 Vehicles other than railway, tramway $5.64Bn Pearls, precious stones, metals, coins $4.32Bn Ores slag and ash $2.90Bn Edible fruits, nuts, peel of citrus fruit, melons $2.09Bn Machinery, nuclear reactors, boilers $981.40M Iron and steel $782.49M Aluminium $622.49M Mineral fuels, oils, distillation products $569.48M Organic chemicals $311.86M Beverages, spirits and vinegar $297.00M SA TOP 10 IMPORTS FROM EUROPE 2024 Machinery, nuclear reactors, boilers $5.60Bn Vehicles other than railway, tramway $3.82Bn Electrical, electronic equipment $2.93Bn Optical, photo, technical, medical apparatus $1.23Bn Miscellaneous chemical products $1.12Bn Mineral fuels, oils, distillation products $1.07Bn Pharmaceutical products $1.04Bn Plastics $966.56M Inorganic chemicals, precious metal compound, isotope $591.90M Essential oils, perfumes, cosmetics, toiletries $538.23M the top agricultural products South Africa exported to the EU in 2024, according to the Agricultural Business Chamber (Agbiz). Africa was the top destination, followed by Asia and the Middle East. Since 2016, the share of manufactured/processed goods in SA exports to the EU has grown steadily. Together with vehicles, they made up nearly half of the value of the 2024 exports, or R238bn. The mix of minerals reflects the move away from fossil fuels, with coal down but up with platinum group metals. In March 2025, the EU announced a €4.7bn (R90bn) grants and loans package to support investment in SA projects in the areas of the development of critical raw material extraction and beneficiation, low-carbon hydrogen and vaccines. ER
