This is due to Chinese imports far outweighing the total goods exported to the country, with the SARB describing the trading relationship between the two countries as “highly uneven.”
“South Africa imports a lot more manufactured products from China than it exports,” the Reserve Bank noted.
“In the 2026 revision, China supplied 35.7% of South Africa’s manufactured imports but received only about 5.9% of South Africa’s manufactured exports.”
Some South African industries have sounded the alarm over Chinese and broader Asian imports threatening local manufacturing.
For exports, Europe and the US account for the largest share of South Africa’s international sales, with China trailing.