Profile: SACU’s exports to the US up 15% year on year
SACU’s* exports to the United States were up 15% year on year during the first six months of 2008, an analysis of recently released trade data shows. 2008 exports were worth $5,58 billion against $4,86 billion over the same period last year.
Commodity-type exports lead the way, with platinum the region’s most valuable export category ($1,78bn so far in 2008). However, this product line has seen a year on year decline of almost 7% with US-bound exports. Diamonds, at $690mn is the next largest category with a 9% rise. Ferroalloys, the third most valuable commodity export, has achieved year on year growth of 123% and is worth $524mn in exports from the region.
The largest manufactured product is from the automotive industry, with vehicle exports benefiting from the remission of duties under AGOA. These exports were valued at $913mn over the first 6 months of 2008, compared with only $214mn over the same period in 2007 (representing a 327% increase over 2007). Other significant exports were centrifuges as well as ash and residues.
The difficult trading conditions in the textile sector see exports in key categories down significantly in the half year to June. Sweaters and pullovers (category HS 6110) from the region are down 23% (to $67mn) while suits (category HS 6203) reveal a 24% decline from $53mn to $43mn.
See a regional (SACU) sectoral profile of bilateral trade between SACU (South Africa, Namibia, Botswana, Lesotho and Swaziland) and the United States on AGOA.info at this link.
*SACU: South Africa, Namibia, Botswana, Lesotho and Swaziland
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