|October 6, 2004
Bilateral trade with China shows substantial growth
The volume of bilateral trade between China and South Africa has maintained an annual growth rate of 29% since the establishment of diplomatic ties in 1998, according to Chinese customs statistics. Exports from South Africa to China increased to $1,84bn in 2003, compared with 690m in 1998. By the end of the first half of 2004 the volume of China-South Africa trade had grown substantially to 2,75bn, a 64% increase over the same period last year. South Africa exported goods worth 1,5bn to China, representing an 85,4% increase over the same period last year. Chinese exports to South Africa accounted for $1,23bn, a 44,5% increase over the first six months of 2003. China's imports from South Africa are primarily centred on iron and steel, mineral products and nonferrous metal. China's exports to South Africa focus on textiles, clothing and electric and electronics goods.
(Business Day, Johannesburg)