South Africa Procurement
South Africa is rich in diamond, platinum, gold and other natural resources. With an ever-growing domestic market, this country belongs to the middle income group. The nation boasts of highly developed infrastructure with the major industrial and mining areas connected with urban centers. For successful South Africa sourcing, it is important to have an in-depth comprehension of the natural resources and infrastructure of the country. Effective procurement in South Africa is not possible without proper knowledge.
The fast growth trajectory of South Africa is what makes this nation a viable alternative to other sourcing markets. A major driver of this growth is its B2B market. Additionally, the growing, young population and rapid urbanization rate is a deciding factor for South Africa procurement. New opportunities are being unlocked for businesses and consumers thanks to this nation’s technological advancements.
The services sector dominates the South African economy, which accounts for almost sixty-five percent of GDP (gross domestic product). Industrial segment contributes approximately thirty-two percent towards national GDP.
Items of Export
The leading items of export are platinum, gold and diamonds. Industrial equipment and machineries are also exported in large volumes. The country’s export earnings amounted to more than US $7.5 billion a month. United States of America, the United Kingdom and Germany are the major purchasers of South African exports. China and Japan are other notable nations of export.
South Africa imports from China, India, Japan, Saudi Arabia, USA, Germany, and UK.
Resources of South Africa
Minerals, such as platinum, gold, diamond, coal, antimony, iron ore, nickel, chromium, vanadium, manganese, uranium and tin are found in abundance in South Africa. Phosphates, salt and natural gas are notable among non-metallic resources. These resources make sourcing in South Africa advantageous for companies. Though agriculture is not the predominant sector, this country produces significant volume of wheat, corn, sugarcane, vegetables and fruit. Mutton, beef, poultry and dairy products also form a sizeable portion of resources of this nation. Businesses can tap into the vast resource and economy of this nation by collaborating with a South Africa procurement agency.
In the Republic of South Africa, mining is one of the most primary and important activities. The country is globally the biggest producer of chromium, platinum and gold. Major industries consist of textile, metalworking, chemicals, automobile assembly, iron and steel, fertilizers and food processing.
For further details on South Africa procurement and sourcing, please contact us.