The trade volume between Turkey and South Africa reached the highest level of the last 10 years

South Africa is among the  leading countries of the region and the continent with its rich underground and surface resources, strong financial infrastructure, dynamic population, defense power and industry. The trade volume between Turkey and South Africa is increasing rapidly. While the trade volume between the two countries reached the highest level of the last 10 years in 8 months of 2022, Turkey's exports to South Africa also broke a record.

According to the information Turkey obtained from the Pretoria Embassy Commercial Counselor, the trade volume between the two countries, which was approximately 1.4 billion dollars in January-August 2021, increased to 2.28 billion dollars in the same period of this year.

While the trade volume exceeding 2 billion dollars last year was reached in the first half of this year, the trade volume between the two countries is expected to reach a record level in 2022. The trade volume between Turkey and South Africa reached its highest level in 2011 with $2.46 billion.

Turkey's exports to South Africa increased by 150% in the 8 months of this year compared to the same period of 2021, breaking a record with approximately 1.34 billion dollars.

Realizing approximately 943 million dollars of imports from South Africa in the said period, Turkey had a surplus of 395 million dollars. The export-import balance, which was in favor of South Africa before, turns in favor of Turkey for the first time this year.

South Africa Has 270 million dollars of direct investment in Turkey

According to the data of the South African Embassy in Turkey, Turkey imported the most iron-steel, centrifuges, cameras, diesel engines and coal from South Africa last year, while the most mineral oil, iron-steel products, motor vehicles were imported to South Africa. , exported electrical household appliances and cables.

There are also many mutual investments in the two countries. According to the data of the Central Bank of the Republic of Turkey (CBRT), Turkey has a direct investment of 29 million dollars in South Africa and 270 million dollars of South Africans in Turkey in the 2002-2021 period.

It is noteworthy that some South African business persons have recently invested in livestock and real estate in Turkey.