Trade & Development

SA's economy, imports and exports

SA's Economy and Trade

South Africa trades with countries around the world — we export minerals, fruit, wine and cars, and import oil, electronics and machinery. Trade helps our economy grow and creates jobs.

Example

SA Trade Facts

Main exports: gold, platinum, iron ore, coal, fruit, vehicles Main imports: crude oil, electronics, machinery Trading partners: China, Germany, USA, India, Japan Port of Durban: busiest port in Africa

Note

Remember

A healthy economy needs both imports and exports. If we import more than we export, we have a trade deficit. SA faces challenges: unemployment, inequality and slow growth.

Key Vocabulary

ExportGoods sold to other countries

ImportGoods bought from other countries

EconomyThe system of producing and consuming goods and services

Trade deficitWhen a country imports more than it exports

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