South Africa: Its agricultural sector posts a trade surplus of $ 1.5 billion, 40% more than in 2020

Agriculture in South Africa continues to perform well on the international market. In the second quarter of the year, the agricultural sector recorded a trade surplus of $ 1.5 billion, 40% more than last year at the same time.

This new feat was made possible by vigorous agricultural exports despite the disruptions linked to the coronavirus. In fact, product shipments generated $ 3.2 billion in the second quarter, an increase of 36% year-on-year and an increase of $ 300 million compared to the first quarter.

According to Wandile Sihlobo, chief economist at the South African Chamber of Agricultural Enterprises (Agbiz), this dynamism of the sector’s shipments has been driven mainly by products such as citrus fruits, corn, wine, pineapple, grape and wool.

In terms of destinations, Africa and Asia were the main outlets, accounting for 34% and 26% of the total value of goods, respectively. For Mr. Sihlobo, in the first half of 2021, the rainbow nation will have exported a total of $ 6.1 billion in agricultural products.

While this amount is up 30% from 2020, many analysts believe the sector could still post a better economic performance by the end of this year. In 2020, South Africa raked in nearly $ 12 billion in farm receipts.