South Africa's trade with China surges by 32 pct in 2013

Date : 2014-03-13  | From : Xinhua

South Africa's bilateral trade with China saw a 32-percent increase in 2013 over the previous year, Trade and Industry Minister Rob Davies said on Wednesday.

Two-way trade between the two countries increased from 205 billion rand (about 19.2 billion U.S. dollars) in 2012 to 270 billion rand (about 25 billion dollars) at the end of 2013, Davies said in a written reply to a parliamentary question.

There is indeed scope to expand South Africa's exports to China in value-added manufactured products, particularly as the Chinese economy continued to register strong growth rates, said Davies.

Chinese investments in South Africa, meanwhile, continued to grow, Davies said.

Between January 2003 and January (this year), a total of 38 FDI (foreign direct investment) projects were recorded. These projects represent a total capital investment of 13.33 billion rand (about 1.24 billion dollars), which is an average investment of 350.48 million rand (about 33 million dollars) per project.

"During the period, a total of 10,992 jobs were created," he said.

These investments were spread across the metals; car; communications; financial services; food and tobacco; chemicals; industrial machinery; construction; engines and turbines; and transportation sectors, according to Davies.