Weaker rand good for exports – CFR

A WEAKER rand has helped boost component exports through the Eastern Cape and other centres, says CFR Freight Port Elizabeth branch manager Sherrol Lacey. “CFR Port Elizabeth is showing continual growth on both seafreight imports and exports. “Although the automotive industry has been “tightening their belts”, the weaker rand does positively affect our export volumes, allowing us to offer direct weekly services from Port Elizabeth to the Far East and Europe, while other destinations would be serviced via either Cape Town or Durban,” she says. CFR offers direct services from Tilbury, Hamburg, Bremen, Barcelona, Livorno, Antwerp, Santos and various ports in the USA. Without diversification of the local economy, the Eastern Cape will continue to be subject to local and international movements in the auto industry. “The majority of our export commodities are automotive parts and accessories. Considering that this is the Eastern Cape’s main industry, any changes to the automotive industry would naturally have an impact on our export volumes,” she says.