SA exporters make massive headway in EU

Ed Richardson SOUTH AFRICAN exporters have beaten slow world markets with a hefty 53% increase in sales to Europe during the first six months of this year. Figures released by the European Commission show that this growth is on top of a 35% increase in South African exports to Europe in 2000. In monetary terms local exports to the European Union (EU) grew from R38 billion in the first six months of last year to nearly R58 billion in the first six months of 2001. South Africa's competitive advantage over countries trading with the EU is underlined by the fact that the sluggish economy kept total imports into Europe down to 8% in the first six months of this year. Two-way trade between South Africa and the EU showed an overall increase in this half. EU imports into South Africa, mostly hi-tech manufactured goods, grew by 14% over the corresponding period in 2000. South Africa's trade surplus with Europe was R14 billion in the first half of 2001 compared with a surplus of R17 billion for last year. The European Commission embassy in Pretoria said it was clear that South African exporters had made significant inroads into the EU market. They had taken advantage of the dollar-denominated commodities such as gold and platinum, a weaker rand for manufactured and agricultural products and the improved market access created since January 2000 by the South Africa-EU trade development and co-operation agreement.