Africa has emerged as South Africa’s greatest export market for agricultural and agro-processing products, while it is unclear which nations on the continent are now the main intra-continental importers of local perishable commodities. According to Statistics SA’s most recent set of GDP statistics, which was issued yesterday, these items accounted for R51 billion in the second quarter, making them one of the few segments of the local economy that did well (Q2). On data gathered from this sector in Q1 of last year, this statistic represents a 12% growth. Citrus, maize, apples and pears were the top exports that helped the year-over-year figures improve. Reggie Ngcobo, a spokesman for the Department of Agriculture, Land Reform, and Rural Development, reported that 35% of the value of South Africa’s exports to Africa were agricultural and agro-processing products. By importing 28% of South Africa’s perishables in Q2, Asia ranked second. Having imported 21% of this industry, the EU comes in third. Thoko Didiza, the CEO of Ngcobo, expressed appreciation for the GDP data for agriculture and agro-processing. “The world’s economy grew slowly during this era of increased tension. According to a statement released by the Government Communication and Information System (GCIS), “South Africa, like many other nations across the world, suffered rises in the price of food, housing, and petrol, which were occurrences beyond the control of the government.
Despite the fact that GDP shrank, Gungubele pointed out that the economy was showing signs of recovery. The minister stated that “the most recent employment data, in particular, bore evidence that our policies are beginning to produce fruit.” According to Stats SA’s most recent findings, 648 000 jobs were added during the first and second quarters of 2022. Additionally, to lessen the burden on drivers, the government temporarily suspended the general fuel charge to soften the blow of increasing gasoline costs in the second quarter. In order to give the economy time to react to the new reality of increased gasoline costs due to rising crude oil prices, the government prolonged the temporary decrease of the general fuel levy by R1.50 per liter. It also appreciates the drop in gasoline costs that the Department of Mineral Resources and Energy announced. Lower oil prices and a stronger rand concerning the dollar were to blame for this. The revelation will reduce the cost of logistics in the nation and give rise to a chance to increase local tourism.
