EU Surplus in International Trade in Goods with South Africa is Rising, Report Finds
Trade between the EU and South Africa is on the upswing after declining in 2009, Eurostat reported Thursday. The value of EU27 exports peaked at 26.6 billion euros ($34 billion) in 2011, while imports rose to 20.5 billion, still not…
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reaching the record levels of 2007, it said. As a result, EU27 trade with South Africa showed a surplus of 6.1 billion euros in 2011 compared with +1.4 billion in 2010 and -3.1 billion in 2009, it said. Trade fell in the first half of this year compared with the same period 2011, it said. Exports were slightly down, imports more significantly lower, it said. The result is that the EU27 surplus in trade of goods with South Africa rose from 2.7 billion in the first half of 2011 to 3.4 billion in the same period of 2012, it said. Germany is the largest EU exporter to South Africa, the U.K. the biggest importer, it said.