In contrast to the 15% growth in import volumes in 2007, this year has seen a definite slowdown, says Martin Keck, managing director of independent consolidator CFR Freight. “This is partly due to the global economic slowdown, but every micro-economy has its own issues and since South Africa is an emerging market the high interest rates and our volatile currency are factors specific to us,” he said. While Europe has strong traditional and historical ties with Africa, the Asia/ Africa relationship is purely commercial. “The trade with Europe will therefore always exist but trade with the Far East is bound to pick up again along with South Africa’s economy.” Keck believes South Africa will also benefit from a resolution of the problems in Zimbabwe. “If their economy stabilises lots of cargo for Zimbabwe will move through South Africa. In the long term, as Africa’s population grows wealthier, this will also have a positive impact on trade with the Far East,” notes Keck. With imports far outweighing exports on the route, CFR imports from seven different ports in China to South Africa while Singapore and Hong Kong suffice as export hubs to China. And while European imports are predominantly automotive and mechanical, consumables, which are retail and textile related, dominate on the Far East import leg.
