That dollar amount reflects a 29.6% gain compared to $95.2 billion during 2018.
Year over year, the overall value of South African exports fell by -0.3% from $123.7 billion in 2021.
Based on the average exchange rate for 2022, the South African rand diluted by -23.6% against the US dollar since 2018 and depreciated by -10.7% from 2021 to 2022. South Africa’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers.
South Africa’s biggest export products by value in 2022 were platinum, coal, iron, cars and gold. In aggregate, those major exports accounted for 38.6% of overall exports sales from South Africa. That relatively high percentage suggests a concentrated set of exported goods.
South Africa places number one for exporting platinum, ranks among world-leading export nations for iron, and is a major competitor selling coal on international markets.
South Africa’s Best International Trade Customers
The latest available country-specific data shows that 64.9% of products exported from South Africa were bought by importers in: mainland China (9.7% of South Africa’s global total), United States of America (8.8%), Germany (8.1%), Japan (7%), United Kingdom (5.1%), Netherlands (4.8%), Mozambique (4.7%), India (4.2%), Botswana (3.8%), Belgium (3.2%), Namibia (2.8%) and Zimbabwe (2.6%).
From a continental perspective, 33.6% of South African exports by value was delivered to Asian countries while 29.5% was sold to European importers. South Africa shipped another 25.7% worth of goods to Africa.
Smaller percentages went to North America (10.1%), Oceania (0.8%) led by Australia then Latin America (0.1%) excluding Mexico but including the Caribbean.
Given South Africa’s population of 60.5 million people, its total $123.4 billion in 2022 exports translates to roughly $2,000 for every resident in the relatively wealthy African nation. That per-capita amount fall below the average $2,050 one year earlier in 2021.
South Africa’s Top 10 Exports
The following export product groups represent the highest dollar value in South African global shipments during 2022. Also shown is the percentage share each export category represents in terms of overall exports from South Africa.
- Gems, precious metals: US$26.9 billion (21.8% of total exports)
- Mineral fuels including oil: $16.9 billion (13.7%)
- Ores, slag, ash: $16.4 billion (13.3%)
- Vehicles : $11.1 billion (9%)
- Iron, steel: $6.7 billion (5.4%)
- Machinery including computers: $6.6 billion (5.4%)
- Fruits, nuts: $4.4 billion (3.6%)
- Aluminum: $2 billion (1.6%)
- Electrical machinery, equipment: $1.87 billion (1.5%)
- Inorganic chemicals: $1.86 billion (1.5%)
South Africa’s top 10 exports surpassed three-quarters (76.8%) of the overall value of its global shipments.
Mineral fuels including oil was the fastest grower among the top 10 export categories, up by 64.0% from 2021 to 2022.
In second place for improving export sales were inorganic chemicals: which rose 38.3%.
South Africa’s shipments of electrical machinery and equipment posted the third-fastest gain in value, up by 10.1% year over year.
The leading decliner among South Africa’s top 10 export categories was gems and precious metals which fell -22.8%. That product category was dragged down by lower South African revenues from exported gold and platinum.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of South Africa’s Most Valuable Export Products further down near the bottom of this article.
Products Generating the Greatest Trade Surpluses for South Africa
South Africa posted an overall $12.1 billion trade surplus for 2022, down by -60% from the $30.1 billion in black ink one year earlier in 2021.
The following types of South African product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Gems, precious metals: US$25.4 billion (Down by -23.9% since 2021)
- Ores, slag, ash: $16.3 billion (Down by -11.6%)
- Iron, steel: $4.8 billion (Up by 7.6%)
- Fruits, nuts: $4.2 billion (Down by -0.04%)
- Vehicles: $2.8 billion (Down by -35.1%)
- Aluminum: $1.3 billion (Up by 8.6%)
- Nickel: $1.1 billion (Up by 68.1%)
- Woodpulp: $1 billion (Up by 29.2%)
- Beverages, spirits, vinegar: $750.2 million (Down by -5.8%)
- Salt, sulphur, stone, cement: $442.4 million (Up by 90.6%)
South Africa has highly positive net exports in the international trade of platinum, gold and diamonds. In turn, these cashflows indicate South Africa’s strong competitive advantages under the gems and precious metals product category.
Products Causing the Biggest Trade Deficits for South Africa
Below are exports from South Africa that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country South Africa’s goods trail South African importer spending on foreign products.
- Electrical machinery, equipment: -US$8.5 billion (Up by 23% since 2021)
- Mineral fuels including oil: -$8.4 billion (Up by 62.3%)
- Machinery including computers: -$5.8 billion (Up by 25%)
- Books, newspapers, pictures: -$1.9 billion (Up by 14%)
- Pharmaceuticals: -$1.8 billion (Down by -17.3%)
- Optical, technical, medical apparatus: -$1.7 billion (Up by 1.3%)
- Plastics, plastic articles: -$1.5 billion (Up by 11.9%)
- Other chemical goods: -$891.8 million (Reversing a $125.4 million surplus)
- Rubber, rubber articles: -$886.3 million (Down by -4.9%)
- Knit or crochet clothing, accessories: -$843.1 million (Up by 13.2%)
South Africa has highly negative net exports and therefore deep international trade deficits for electrical machinery and equipment.
These cashflow deficiencies clearly indicate South Africa’s competitive disadvantages in the electronics market, but also represent key opportunities for South Africa to improve its position in the global economy through focused innovations.
Major South African Export Companies
Fifteen South African corporations rank among Forbes Global 2000. Below are major South African companies involved in international trade.
- Aspen Pharmacare Holdings (pharmaceuticals)
- Bidvest Group (industrials conglomerate)
- MTN Group (telecommunications)
- Naspers (broadcasting, cable)
- Remgro (industrials conglomerate)
- Sasol (diversified chemicals)
- Steinhoff International (furniture)
Searchable List of South Africa’s Most Valuable Export Products
The following searchable table displays 100 of the most in-demand goods shipped from South Africa during 2022. Shown beside each product label is its total export value then the percentage increase or decrease since 2021.
| Rank | South African Export Product | Value (US$) | Change |
|---|---|---|---|
| 1 | Platinum (unwrought) | $16,829,240,000 | -27.3% |
| 2 | Coal, solid fuels made from coal | $12,915,505,000 | +112.5% |
| 3 | Iron ores, concentrates | $6,777,331,000 | -33.4% |
| 4 | Cars | $5,816,761,000 | +8.8% |
| 5 | Gold (unwrought) | $5,265,600,000 | -29.2% |
| 6 | Iron ferroalloys | $4,291,941,000 | +2.4% |
| 7 | Trucks | $4,000,790,000 | -0.4% |
| 8 | Manganese ores, concentrates | $2,922,831,000 | +5.9% |
| 9 | Processed petroleum oils | $2,809,765,000 | +48.4% |
| 10 | Diamonds (unmounted/unset) | $2,651,079,000 | +12.6% |
| 11 | Chromium ores, concentrates | $2,444,871,000 | +25.8% |
| 12 | Centrifuges, filters and purifiers | $2,284,885,000 | -11.7% |
| 13 | Precious metal ores, concentrates | $1,887,787,000 | +7.6% |
| 14 | Fresh or dried citrus fruit | $1,688,793,000 | -8.3% |
| 15 | Coins | $1,576,298,000 | +17.3% |
| 16 | Corn | $1,217,788,000 | +50.5% |
| 17 | Aluminum (unwrought) | $1,174,428,000 | +12.1% |
| 18 | Nickel (unwrought) | $1,125,376,000 | +80.5% |
| 19 | Chemical woodpulp (dissolving) | $1,057,672,000 | +23.9% |
| 20 | Grapes (fresh or dried) | $910,626,000 | +9.9% |
| 21 | Apples, pears (fresh) | $730,904,000 | +6% |
| 22 | Wine | $694,553,000 | -7.4% |
| 23 | Automobile parts/accessories | $679,868,000 | -6% |
| 24 | Electrical energy | $674,655,000 | -14.6% |
| 25 | Niobium/zirconium ores, concentrates | $632,403,000 | +62.6% |
| 26 | Titanium ores, concentrates | $598,604,000 | +58% |
| 27 | Flat-rolled stainless steel items | $586,883,000 | -4.2% |
| 28 | Sulphates, alums | $551,968,000 | -13.6% |
| 29 | Zinc ores, concentrates | $531,450,000 | +14.9% |
| 30 | Sort/screen/washing machinery | $501,773,000 | +20% |
| 31 | Initiators/accelerators, catalytic preps | $468,340,000 | -61.5% |
| 32 | Nitrogenous fertilizers | $467,225,000 | +61.1% |
| 33 | Aluminum plates, sheets, strips | $461,755,000 | +2.5% |
| 34 | Machinery parts | $461,557,000 | +15.5% |
| 35 | Acyclic hydrocarbons | $457,037,000 | +18.7% |
| 36 | Refined copper, unwrought alloys | $442,316,000 | +11.1% |
| 37 | Propylene/olefin polymers | $439,931,000 | +8.9% |
| 38 | Miscellaneous nuts | $439,278,000 | +7.5% |
| 39 | Liquid pumps and elevators | $420,501,000 | +13.2% |
| 40 | Flat-rolled iron or non-alloy steel products (plated/coated) | $404,467,000 | -7.9% |
| 41 | Precious metal waste, scrap | $348,075,000 | -8.9% |
| 42 | Blood fractions (including antisera) | $346,571,000 | -7.9% |
| 43 | Unrefined copper | $319,774,000 | -13% |
| 44 | Medication mixes in dosage | $314,372,000 | -29.3% |
| 45 | Beauty/makeup/skin care preparations | $313,338,000 | -3.3% |
| 46 | Pig iron | $311,895,000 | +50.9% |
| 47 | Rubber tires (new) | $310,750,000 | +17.2% |
| 48 | Iron oxides, hydroxides | $300,338,000 | +4245% |
| 49 | Acyclic alcohols | $298,184,000 | -4.1% |
| 50 | Sugar (cane or beet) | $285,051,000 | +2.9% |
| 51 | Miscellaneous iron and steel structures | $283,985,000 | -1.1% |
| 52 | Fruit and vegetable juices | $282,677,000 | -10.1% |
| 53 | Miscellaneous iron or steel items | $274,989,000 | +2% |
| 54 | Heavy machinery (bulldozers, excavators, road rollers) | $266,444,000 | +6.8% |
| 55 | Other organic cleaning preparations | $263,534,000 | -12.2% |
| 56 | Piston engine parts | $258,333,000 | -13.6% |
| 57 | Granulated slag | $254,239,000 | -4.6% |
| 58 | Wool (uncarded, uncombed) | $253,783,000 | -22.3% |
| 59 | Packaged insecticides/fungicides/herbicides | $252,934,000 | -20.9% |
| 60 | Fuel wood, wood chips, sawdust | $246,962,000 | +19.4% |
| 61 | Tractors | $242,008,000 | +13.4% |
| 62 | Insulated wire/cable | $239,288,000 | +14% |
| 63 | Phone devices including smartphones | $237,664,000 | +18.3% |
| 64 | Miscellaneous fruits (fresh) | $236,086,000 | +1.5% |
| 65 | Miscellaneous preserved fruits | $235,505,000 | +19.9% |
| 66 | Phone system devices | $234,952,000 | +11% |
| 67 | Plastic packing goods, lids, caps | $229,607,000 | +5.7% |
| 68 | Computers, optical readers | $222,693,000 | +11% |
| 69 | Miscellaneous animal feed preparations | $206,739,000 | +5.5% |
| 70 | Other food preparations | $204,881,000 | +4.3% |
| 71 | Jewelry | $203,474,000 | +17% |
| 72 | Wheat | $202,143,000 | +113% |
| 73 | Ethylene polymers | $195,969,000 | +10.6% |
| 74 | Apricots, cherries, peaches, nectarines, plums | $195,379,000 | +12.6% |
| 75 | Ketones, quinones | $194,507,000 | -3.1% |
| 76 | Iron or steel scrap | $191,996,000 | +115.1% |
| 77 | Organic surface-active goods, soap | $191,962,000 | +34.1% |
| 78 | Yachts, other pleasure/sports vessels | $187,141,000 | +9.1% |
| 79 | Copper ores, concentrates | $185,871,000 | -25.6% |
| 80 | Chemical industry products/residuals | $185,242,000 | +14.8% |
| 81 | Aircraft or spacecraft parts | $179,309,000 | 0% |
| 82 | Petroleum jelly, mineral waxes | $178,634,000 | +5% |
| 83 | Ethyl alcohol | $177,202,000 | +26.8% |
| 84 | Iron or non-alloy steel products (semi-finished) | $175,136,000 | +55.4% |
| 85 | Natural calcium or aluminum phosphates | $174,951,000 | +110629% |
| 86 | Mixed sauces, preparations | $174,894,000 | -0.9% |
| 87 | Taps, valves, similar appliances | $172,325,000 | +8% |
| 88 | Transmission shafts, gears, clutches | $168,596,000 | +0.5% |
| 89 | Sun/safflower/cotton-seed oil | $168,247,000 | +64.7% |
| 90 | Feldspar, leucite, nepheline | $164,804,000 | +64.5% |
| 91 | Non-alcoholic drinks (not water/juice/milk) | $162,806,000 | -3.3% |
| 92 | Plastic tubes, pipes, fittings | $158,712,000 | +14.5% |
| 93 | Soya beans | $158,234,000 | +507.1% |
| 94 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $157,837,000 | -2.7% |
| 95 | Phosphoric/polyphosphoric acids | $155,271,000 | +112.2% |
| 96 | Refrigerators, freezers | $155,170,000 | +10.5% |
| 97 | Alcohol (including spirits, liqueurs) | $147,866,000 | +4.7% |
| 98 | Specially designed containers | $146,318,000 | +39.1% |
| 99 | Chemical woodpulp (non-dissolving) | $145,295,000 | +401.4% |
| 100 | Manganese | $142,119,000 | +77% |
This cohort of 100 exported goods were worth a subtotal of US$102.7 billion or 83.2% by value for all products exported from South Africa during 2022.
In macroeconomic terms, South Africa’s total exported goods represent 13% of its overall Gross Domestic Product for 2022 ($949.8 billion valued in Purchasing Power Parity US dollars). That 13% for exports to overall GDP per PPP in 2022 compares to 14.4% one year earlier. Those percentages suggest a decreasing reliance on products sold on international markets for South Africa’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. South Africa’s unemployment rate averaged 34.625% for 2022, up from an average 34.3% for 2021 according to the International Monetary Fund.
See also South Africa’s Top 10 Imports, Top South African Trading Partners and Top African Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on March 24, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 24, 2023
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 24, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 24, 2023
International Trade Centre, Trade Map. Accessed on March 24, 2023
Investopedia, Net Exports Definition. Accessed on March 24, 2023
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 24, 2023
Wikipedia, Gross domestic product. Accessed on March 24, 2023
Wikipedia, Purchasing power parity. Accessed on March 24, 2023
Wikipedia, South Africa. Accessed on March 24, 2023
