South Africa
AGOA Status: South Africa is eligible for AGOA this year. It also qualifies for textile and apparel benefits.
Trade Agreements: The U.S. and South Africa signed a Trade and Investment Framework Agreement (TIFA) in 2012, which amends the United States-South Africa TIFA originally signed in 1999. The most recent meeting of the United States-South Africa Council on Trade and Investment was held in June 2012 in Washington D.C. See the press release for more information.
In addition, the U.S. and the Southern Africa Customs Union (SACU), which includes South Africa, signed a Trade, Investment, and Development Cooperative Agreement (TIDCA) in 2008. The TIDCA establishes a forum for consultative discussions, cooperative work, and possible agreements on a wide range of trade issues, with a special focus on customs and trade facilitation, technical barriers to trade, sanitary and phytosanitary (SPS) measures, and trade and investment promotion.
U.S.-South Africa Trade Facts
U.S. goods and services trade with South Africa totaled $22 billion in 2011.
South Africa is currently our 36th largest goods trading partner with $16.8 billion in total (two ways) goods trade during 2011. Goods exports totaled $7.3 billion; Goods imports totaled $9.5 billion. The U.S. goods trade deficit with South Africa was $2.2 billion in 2011.
Trade in services with South Africa (exports and imports) totaled $5 billion in 2011 (preliminary data). Services exports were $3 billion; Services imports were $2 billion. The U.S. services trade surplus with South Africa was $1 billion in 2011.
Exports
South Africa was the United States' 37th largest goods export market in 2011.
U.S. goods exports to South Africa in 2011 were $7.3 billion, up 29.5% ($1.7 billion) from 2010, and up 137% from 2000.
The top export categories (2-digit HS) for 2011 were: Machinery ($1.6 billion), Vehicles ($1.1 billion), Precious Stones (gold) ($691 million), Mineral Fuel (oil) ($482 million), and Electrical Machinery ($437 million).
U.S. exports of agricultural products to South Africa totaled $361 million in 2011. Leading categories includes: Wheat ($95 million), Poultry Meat ($33 million), Vegetable Oils ($31 million), and Dairy Products ($28 million).
U.S. exports of private commercial services* (i.e., excluding military and government) to South Africa were $2.9 billion in 2011 (preliminary data), 17% ($430 million) more than 2010 and 96% greater than 2000 levels. Other private services (business, professional, and technical services), and royalties and license fees categories accounted for most of U.S. services exports to South Africa.
Imports
South Africa was the United States' 36th largest supplier of goods imports in 2011.
U.S. goods imports from South Africa totaled $9.5 billion in 2011, a 15.7% increase ($1.3 billion) from 2010, and up 126% from 2000.
The five largest import categories in 2011 were: Precious Stones (platinum and diamonds) ($3.6 billion), Vehicles (cars) ($2.2 billion), Iron and Steel ($853 million), Machinery ($448 million), and Ores, Slag, Ash ($402 million).
U.S. imports of agricultural products from South Africa totaled $210 million in 2011. Leading categories include: Fresh Fruit ($46 million), Wine and Beer ($45 million), and Tree Nuts ($33 million).
U.S. imports of private commercial services* (i.e., excluding military and government) were $1.9 billion in 2011 (preliminary data), up 8% ($143 million) from 2010, and up 131% from 2000 level. Travel and the other private services (business, professional, and technical services) categories accounted for most of U.S. services imports from South Africa.
Trade Balance
The U.S. goods trade deficit with South Africa was $2.2 billion in 2011, a 14.4% increase ($372 million) over 2010.
The United States had a services trade surplus of $1.0 billion with South Africa in 2011 (preliminary data), up 38% from 2010.
Historical Trade Data
U.S. Goods Trade with South Africa (in billions of dollars)
|
1980 |
1985 |
1990 |
1994 |
2000 |
2008 |
2009 |
2010 |
2011 |
Balance |
-0.9 |
-0.9 |
0.0 |
0.1 |
-1.1 |
-3.5 |
-1.4 |
-2.6 |
-2.2 |
Exports |
2.5 |
1.2 |
1.7 |
2.2 |
3.1 |
6.5 |
4.5 |
5.6 |
7.3 |
Imports |
3.3 |
2.1 |
1.7 |
2.0 |
4.2 |
9.9 |
5.9 |
8.2 |
9.5 |
U.S. Services Trade with South Africa (in billions of dollars) 1994, 2000, 2005-2011
|
1994 |
2000 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
Balance |
0.3 |
0.7 |
0.6 |
0.6 |
0.7 |
0.7 |
0.9 |
0.8 |
1.0 |
Exports |
0.6 |
1.5 |
1.6 |
1.8 |
2.1 |
2.2 |
2.3 |
2.5 |
2.9 |
Imports |
0.3 |
0.8 |
0.9 |
1.2 |
1.4 |
1.4 |
1.5 |
1.7 |
1.9 |
Investment
U.S. foreign direct investment (FDI) in South Africa (stock) was $6.5 billion in 2010 (latest data available), a 6.5% increase from 2009.
Reported U.S. direct investment in South Africa was led by the manufacturing and wholesale trade sectors.
South Africa FDI in the United States (stock) was $687 million in 2010 (latest data available), up 13.6% from 2009.
The distribution of South Africa FDI in the United States was led by the wholesale trade sector.
Sales of services in South Africa by majority U.S.-owned affiliates were $3.8 billion in 2009 (latest data available), while sales of services in the United States by majority South African-owned firms were $372 million.
_________________________________________________________________________________________________________
*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.