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SA makes strides in export diversification

11 Sep 2024 - by Liesl Venter and Ed Richardson
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South Africa has moved beyond the colonial stage of simply being an exporter of commodities to the European Union (EU).While gold and other primary products accounted for nearly 70% of exports in 1970, the share of manufactured goods had risen to over 49% by 2022, according to the latest statistics available on the United Nations COMTRADE database.The largest commodity category is pearls, precious stones and coins at $5.16 billion or 19% of the $26.96bn total of SA exports to the EU.Platinum made up the bulk of the value at $3.03bn, followed by diamonds at $629 million. Gold exports totalled $446m in value. Vehicle exports are the next-biggest category, at $4.54bn or 17% of export value. They are, however, 36% down on the high of $719bn in 2019.Passenger cars made up the bulk of the value, at $3.07bn followed by commercial vehicles at $133bn.Third highest is parts and accessories at $134m.Agricultural exports account for 13% of the value or $3.05bn – which is larger than the platinum share.Fresh fruit exports declined from a high of $225bn in 2018 to $1.75bn in 2022.Citrus is the leading export by value at $750m, followed by grapes at $440m.The best year for citrus was 2018 at $834m. The biggest drop has been in fresh apples, pears and quinces, which are down from $382m in 2013 to $153m in 2022.Logistical risks to citrus exports identified by the BMI operational risk team include rising criminality, labour unrest and infrastructure decline.This is compounded by the risk of a return of rolling blackouts.A Western Cape survey conducted by the SA Bureau of Food and Agricultural Policy found that over half the farming operations in the fruit sector required power 24 hours a day for irrigation and packhouses. BMI has identified water as another major threat, with the risk team stating that the country is becoming increasingly water stressed due to under-maintained and inefficient infrastructure.“Potential disruptions in water supply are a particular concern for agriculture, a sector that demands substantial water resources. Fruit production stands out as especially water intensive. “More than 60% of available freshwater resources in South Africa are used in agriculture, highlighting the importance of water availability for the sector,” the report states.

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