South Africa exports and imports of goods equivalent to the value of about 60% of its Gross Domestic Product (GDP).. This puts international trade front and center of South Africa’s economy..
The size of this trade indicates that South Africa is a very open economy.. While having an open economy is a good thing, it does expose the country to greater volatility as the economy is influenced by global events and economies to a large extent..
The robustness of this trade could however, suffer due to the current hot topic on everyone’s mind.. Corona Virus or COVID-19..
The burning question that everyone has is what impact will COVID-19 have on South Africa’s trade especially as all of the above 5 countries have been affected by the virus with China being the worst affected and others not far behind..
Andrew Pike, Head of Bowmans Ports, Logistics and Transport sector shares some useful information on COVID-19 from South Africa’s shipping perspective..