South Africa Emerges as 3rd Largest Export Destination

However, exports have since picked up and as at November 2012, exports of Export Oriented Enterprises (EOEs) recorded a growth compared to January to November 2011.

According to EM, total EOEs export for the period January to November 2012 was Rs 42,017 million compared to Rs 39,172 million in 2011. One important influence shaping the new export scenario is that South Africa (SA) for the first time has emerged as the third largest export destination after the UK and France and is ahead of the USA.

Secondly the share of non-traditional market has increased to 46 per cent and that of our traditional market has fallen from 57 per cent to 54 per cent for the period January to November 2012.

The CEO of EM, Dev Chamroo highlighted that the export diversification drive is further strengthened with the emergence of seafood products recording a 33 per cent growth to reach Rs 9,828 m for the period January to November 2012, compared to Rs 7,387m for the corresponding period in 2011.

He added: “Similarly exports of jewellery, optical goods and clocks have also recorded substantial growth.” Textile and clothing remains the main driver generating earnings of Rs 23,550 m for the period January to November 2012.