Ramaphosa says SA's total trade with BRICS countries has increased

Government said South Africa’s trade with other BRICS countries reached just over R700 billion last year, up from R487 billion in 2017.

FILE: Over 17% of South Africa’s exports were destined for other BRICS countries last year, while over 29% of our total imports came from these nations. Picture: @SAgovnews/Twitter.

CAPE TOWN - South Africa’s total trade with other BRICS countries has seen a 69% rise since last year.

President Cyril Ramaphosa has in his weekly newsletter on Monday emphasised the crucial role of the BRICS partners to help rebuild the country, especially in the wake of the COVID-19 pandemic.

Ramaphosa will from Thursday join the leaders of Brazil, Russia India and China at the 14th BRICS Leaders’ Summit, which will be hosted virtually by President Xi Jinping.

Government said South Africa’s trade with other BRICS countries reached just over R700 billion last year, up from R487 billion in 2017.

Over 17% of South Africa’s exports were destined for other BRICS countries last year, while over 29% of our total imports came from these nations.

President Ramaphosa has stressed these countries are significant trading partners and points out that the value of this trade is continuing to grow.

Ramaphosa said that coupled with the discussions between governments, the BRICS Business Council and the BRICS Women’s Business Alliance were also building ties between our respective business communities.

They’re focussed on developing sectors such as agribusiness, aviation, financial services, energy, manufacturing and infrastructure, while also improving regulatory environments and developing skills.