SA more than doubles Agoa exports

New trade data to July 2008 reveal that year on year exports from all Agoa beneficiary countries to the US have increased by 62% this year. Nigeria and Angola continue to dominate overall exports by value, according to AGOA.info, although South Africa – the third largest exporter under Agoa – has more than doubled its exports to the US during this period. Exports rose from $1.1 billion (R9bn)over the same period last year to $2.26 billion (R18.5bn) this year. A weaker rand/dollar exchange rate indicates that this increase translates into an even larger increase in local currency terms.