South Africa has a modest but well established trade relationship with Canada. South Africa is Canada’s third largest trading partner in sub Saharan Africa and is viewed as a gateway into the continent.
South Africa is the only African country that has been included on Canada’s Global Market Action Plan, released in 2013 under ‘Emerging Market with Broad Canadian Interest’ list. As such, Export Development Canada (EDC) opened its first Africa office in Johannesburg in 2015 to help Canadian companies explore trade and investment opportunities in Africa.
Canada is ranked as the 35th largest export destination for South Africa and 41st source of imports in 2016 in the world. In Americas, Canada ranked as 2nd export destination for South Africa and 5th source of imports in 2016.
The overall trade partnership is on a positive trajectory with overall volume of trade in 2016 amounting to R10.7 billion (export + imports). Exports from South Africa amounted to R5.6 billion which is an increase from R5.1 billion in 2015, meanwhile, imports decreased to R5.1 billion from R5.8 billion in 2015 comparatively.
Both South Africa and Canada are significant global producers of mineral resources that involve extensive mining. This is a natural area of cooperation and there is a growing interest on both sides to increase both investments and mining related trade. There are many opportunities in the area of mining equipment and technologies on both sides. South Africa and Canada signed a Memorandum of Understanding on Co-operation in Mining and Mineral Development in March 2015.
For more information on trading with South Africa, contact us, or visit the website of our Department of Trade Industry.